Bitcoin Cash Flips Mining Profitability
Other Miners Consider Mining Bitcoin Cash as the Network’s Mining Profitability Comes Close to Parity With BTC
Bitcoin Cash Flips Mining Profitability – Which May Entice More MinersThe Bitcoin Cash network is moving along more smoothly on its eighteenth day as miners have processed 1062 blocks since August 1. Over the course of that period, many larger blocks have been found above the 1MB block size parameter. Most of the bigger blocks have been in the 2MB-4MB range, but on August 16th the mining pool Bitclub mined an 8MB block which confirmed 37,000 BCH transactions. The BCH chain’s difficulty has also dropped, and at the same time, the price has risen greatly. These two factors have led to a close profitability parity between both networks earlier this morning. However, bitcoin cash mining (BCH) is now currently 21 percent more profitable to mine than bitcoin (BTC).
The BCH network still only has a few mining pools that have dedicated hashrate to processing the protocol’s blocks. The most prominent miners at the moment include Viabtc, Bitclub, and the ‘unknown mining pool.’ The mystery miner is still crunching away at a vast majority of blocks found on the network. The BCH chain is also 1480 blocks behind the BTC chain, and hashrate will have to pick up immensely to catch up. However, on August 17 the founder of Bitmain Technologies and the mining pool Antpool, Jihan Wu, said his pool might join BCH mining if others do so as well.
“Antpool will start to provide bitcoin cash mining option after at least one of Segwit supporter/fan pools start to mining bitcoin cash,” explains Jihan Wu on Twitter.
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