NEWS

British companies join, global bitcoin mining arms race intensified

1/11/2019

Bitcoin miners around the world are clearly optimistic about the future of cryptocurrency.Past weeks,a series of large mining operations surfaced.The most recent was a 240% expansion of Argo Blockchain in the UK.

Argo Blockchain just announced,it has replaced the existing order with a larger order.Previously, the company ordered 5,000 Antminer s17 in the UK.But now, it has upgraded 10,000 more powerful and more advanced Antminer T17.

The revised order greatly improved their mining level,Will increase their mining hashing ability by 240%.Become the world's largest publicly traded cryptocurrency company.

Previous media recently reported on the upgrade of China's mining giant BitMain and its own business.Earlier this month,the company opened a bitcoin mine on a 33,000-acre site in Texas.Bitmain's initial planned total capacity is 25 MW.However it was upgraded to 50 MW,and it is possible to further expand to 300 MW.This will make it the largest mine on the planet.

Before many large mines go online,bitcoin's hash rate has been hitting record highs this year.Just last week, the total computing power of the Bitcoin network was reported to reach 114.3 EH/s.Since then the index has declined,but in the long run, there is still a clear upward trend.Obviously, with the global investment of hundreds of millions of dollars to buy Bitcoin mining machines.It shows that people behind these actions are full of confidence in the prospects of cryptocurrency.

With the expansion of the British company’s business in bitcoin mining,intensified the "arms race" of global bitcoin mining.

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