Bitcoin Mining War

Bitcoin Mining War

Business Crypto news Lifestyle
February 20, 2020 by Super System
471
Bitcoin News

Bitmain’s Market Dominance Under Threat

Bitcoin News

The coronavirus outbreak in Wuhan, China, has affected lots of industries in various forms. Although the overall cryptocurrency industry has been unmoved by the outbreak, certain areas have been shaken in one way or the world. Case in point, Bitcoin mining power.

All around the world, Bitcoin’s mining power has been affected by various manufacturing delays as a result of the coronavirus outbreak. The consequence of this is a reduction in cryptocurrency’s computing power. Despite the news, some of the Asian based bitcoin miners have observed an increase in their market share. 

Bitmain has done a fabulous job in the crypto mining industry. Over the years, it has held its position of being the leading crypto mining hardware marker. But recently, it has lost its status to MicroBT. 

The Shenzhen-based mining company sold around 600,000 units of its WhatsMiner M20 last year. Each unit is capable of generating about 60 terahashes per second. 

So, why is MicroBT making a case in the market? Many experts believe MicroBT can usurper Bitmain. Just last year, MicroBT’s hardware was directly involved in 50 percent of all Bitcoin’s computing power growth. This shows that MicroBT was directly involved 30 percent of all Bitcoin mining power globally. 

Is Bitmain Losing Ground? 

From all indications, Bitmain has been faced with lots of setbacks in the last 12 months. The company has fired its Co-founder and chief shareholder and it also plans to reduce its workforce by 50 percent. 

MicroBT’s WhatsMiner M20 hardware has shown it can be more effective and efficient than the Bitmain’s AntMiner S17. The war between both parties will continue. If Bitmain hopes to hold on to its title, it must make certain adjustments, because MicroBT is already breathing down its neck. 

 


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