ETC Continues To Be “Pumped” With Antpool’s $10 Million Investment

Antpool mining pool invests $10 million and ETC. Is this an alternative when the ETH mining operation after the merger will eliminate the type of dedicated miner that Bitman is using?

ETC Miners Confidence Strengthened

MIAMI — AntPool, the mining pool affiliated with mining rig giant Bitmain, has invested $10 million to support the Ethereum Classic ecosystem and plans to continue investing more, the pool’s CEO, Lv Lei, said at Bitmain’s World Digital Mining Summit on July, 26th.

Ethereum Classic is planned to remain a proof-of-work (PoW) network while the Ethereum network is working to switch to a proof-of-stake (PoS). The PoS protocol will fundamentally alter how Ethereum validates blocks, adds them to the blockchain, and generates new ether (ETH). This will render obsolete the necessity for specialized mining rigs like those produced by Bitmain.

However, Ethereum Classic will keep using these rigs to mine its unique ETC coin.

To improve the network’s overall performance, the initial $10 million investment was used to create and test applications for the Ethereum Classic mainnet.

Early in July, Bitmain began selling the Antminer E9, its most recent Ethereum mining device. Additionally, the manufacturer of the mining rigs declared that it will now take ETC payments for all of its Antminer models during the World Digital Mining Summit in Miami.

The current ETC price has increased by 8.47% in 24 hours, is this news enough to make the community continue to FOMO ETC like last time?

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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