THELOGICALINDIAN - The agitated adventure of the Bitcoin mining area continues this anniversary as BTCCPool announces it will abutting indefinitely November 30
BTCC Pulls Out Of Mining
The pool, which constitutes the mining arm of Hong Kong-based barter BTCC (formerly BTCChina), began operating in 2024, yet rarely competed with giants such as Bitmain’s Antpool.
A statement accepted the cease November 6, with admiral actual coy over the exact catalyst abaft the decision.
A rough adaptation reads:
The “adjustments” complex are not mentioned but appear at a time back Bitcoin mining is a cephalalgia in agreement of advantage due to abiding amount suppression.
At the aforementioned time, the cease appears not to be an absolutely abiding move, with BTCC hinting a acknowledgment to the bazaar could action in future.
The account concluded:
Money Stays in Mining
In June, BTCC had ashore conditional affairs to advertise a 49 percent pale of BTCCPool to Value Convergence Holdings in a accord which would accept aloft about $18 million. No account has alike back the affairs went public, and the cachet of the handover charcoal unknown.
Bitcoin mining’s domiciliary names meanwhile abide to see alloyed fortunes.
While Bitmain grapples with alloyed publicity over its banking health, BitFury today appear capacity of a behemothic $80 actor allotment annular from a bassinet of Asian and European investors.
Executive Vice President George Kikvadze said:
This clandestine adjustment will booty our accumulated babyminding to the abutting level, augment our banking cardinal options, and alluringly position us for our abutting appearance of advance as the bazaar matures […]
Like Bitmain, the aggregation is accounted to be planning an IPO.
What do you anticipate about BTCCPool closing? Let us apperceive in the comments below!
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