THELOGICALINDIAN - Japanese internet behemothic GMO has switched its absolute mining accommodation from Bitcoin Cash BCH to Bitcoin BTC as of July 2024
A archetype of the company’s account mining address uploaded to amusing media by cryptocurrency business broker Trace Meyer confirms that in July, GMO mined 568 Bitcoin blocks and 0 Bitcoin Cash blocks.
The aftereffect of a sliding trend throughout this year, the statistics adverse acutely with the company’s action as it appeared in January when it mined aloof 21 Bitcoin blocks but 213 Bitcoin Cash blocks.
Linking to tongue-in-cheek Bitcoin angle ecology armpit fork.lol, Meyer addled a analytical accent absorption on BCH, suggesting GMO had advisedly pivoted abroad from mining it due to assorted challenges the altcoin faces.
Among these are antecedent revelations that hackers could evidently barrage a 51 percent attack on the BCH arrangement for beneath than $40,000, potentially causing a arrangement angle and de facto disabling transaction validation.
In addition, affairs to adamantine angle Bitcoin Cash [coin_price coin=bitcoin-cash] advisedly after this year accept additionally met with votes of no aplomb from some cryptocurrency circles.
GMO meanwhile began accepting preorders for its B2 accessory in May, authoritative it the aboriginal architect to affair accouterments able with 7nm processing technology in a absolute antagonism move with bazaar bounden Bitmain.
Headed by Bitcoin Cash backer Jihan Wu, Bitmain itself is adverse ample burden this ages as its affairs to go accessible via an IPO atom confusion.
Following poor Q2 sales of its own hardware, a pre-IPO broker accouter acknowledgment revealed Bitmain has huge stocks of BCH – stocks it cannot about-face after abolition the bazaar due to the illiquidity of the altcoin.
GMO has appropriately positioned itself at the adverse end of the spectrum.
At the time of the May rollout, CEO Masatoshi Kumagai was quoted as saying he “respects Bitmain” but “will top them” with its offering.
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Images address of Shutterstock, Twitter
