Bitmain’s main mining pool, BTC.com, has recently started mining Bitcoin Satoshi’s Vision (BSV), a cryptocurrency created through a hard fork of the Bitcoin Cash network, in a move that’s being welcomed by the BSV community.
As first reported by CoinGeek, BTC.com started mining BSV this week, as data from multiple blockchain explorers shows the mining pool is currently grabbing a small percentage of the blocks on the cryptocurrency’s network, thanks to its contribution of a relatively small amount of hashrate.
BTC.com is a mining pool owned by Bitmain, a leading cryptocurrency hardware manufacturer that was notably on the Bitcoin Cash ABC side at the time of the hard fork last year. Along with Roger Ver’s Bitcoin.com, Bitmain battled with Calvin Ayre’s CoinGeek and Craig Wright for hashrate control, amid threats of potential 51% attacks.
In the cryptocurrency community, the ‘battle’ is often referred to as “hash wars,” as both sides were deploying mining equipment to increase the hashrate of the networks they supported – Bitcoin Cash ABC or Bitcoin SV – in an attempt to secure their network’s dominance, prevent potential 51% attacks, and fight for the BCH ticker.
Bitcoin Cash ABC eventually got the BCH ticker and is now referred to simply as Bitcoin Cash. According to Bloomberg, the hashrate battle cost over $700,000 a day. Given Bitmain’s history with BSV, why its mining pool is currently mining on that blockchain is currently unclear.
Some have pointed out that BSV’s on-chain transactions have been rising over the last few months, which could mean Bitmain is merely going after its increasing block rewards. The Bitcoin Satoshi’s Vision community, nevertheless, saw BTC.com’s move as a victory.
It’s worth noting that the BSV blockchain has less hashrate than the BCH blockchain, although its number of on-chain transactions recently surpassed that of its competitor, according to Coin.Dance data. CoinGeek has, on several occasions, gotten close to having over 51% of BSV’s hashrate.