Bitmain Deploys 90,000 Miners for BCH Hard Fork in Northwest China
History has a way of repeating itself. Bitcoin Cash (BCH) was the product of a Bitcoin hard fork which took effect just 15 months ago, but now another hard fork is looming.
A Hashrate War Is Looming
According to Chinese news outlet DeepChain, Bitmain-powered AntPool—one of Bitcoin’s premier mining pools—is now in a rush to deploy up to 90,000 S9 miners in China’s northwestern region of Xinjiang. Some of the mining rigs are already in place at the moment.
The Bitcoin Cash hard fork is scheduled for November 15. Take it from many miners—Bitmain, with a massive amount of BCH on its balance sheet, is doing its utmost to prepare for an impending BCH hashrate war.
Bitcoin ABC vs Bitcoin SV
The ongoing battle involves two sides. On one side is Bitcoin ABC and billionaire Wu Jihan-backed Bitmain, opposed by Craig Wright-backed nChain and the Bitcoin Satoshi Vision (BSV).
Bitcoin ABC, the leading development team of Bitcoin Cash, insists on limiting the block size to 32 MB while supporting the BCH infrastructure. By doing so, the team believes that BCH is able to explore more potential applications like Ethereum.
Yet CSW-backed Bitcoin SV seeks to replace Bitcoin ABC with its own version, expecting to expand the BCH block size from its current 32 MB to 128 MB.
What Matters Most In the War?
The BCH hashrate is the key.
In the face of the upcoming BCH hard fork, SV Pool—a BCH mining pool backed by nChain’s Chief Scientist CSW—mined its first Bitcoin Cash block at height 55185 on October 10. According to nChain, there are currently hundreds of miners who have already registered for the pool.
By November 7, 11 of the 37 mining pools listed on the Coin Dance platform announced their support for Bitcoin ABC, while BSV has seen 6 supporters so far.
Supporters for Bitmain include BTC.com, AntPool, Btc.top, ViaBTC and Bitcoin.com, accounting for a hashrate of 6.81%, 3.74%, 12.31%, 9.67% and 6.37% respectively.
Supporters for CSW include CoinGeek, BMG and SBI. CoinGeek, founded by online gambling billionaire Calvin Ayre, accounts for a hashrate of 13.63% alone.
The attitude of exchanges towards the BCH hard fork also matters.
Coinbase, the largest crypto exchange in the world, announced its support for the published roadmap of Bitcoin Cash from bitcoincash.org on November 3. The exchange is ready to “monitor the Bitcoin Cash network during the upgrade and ensure that customers have access to their funds on each chain.”