Bitcoin Classic Mining Hashrate Increases By Over 50%

Bitcoin Watch Shop

An interesting shift in mining power is taking place in the Bitcoin world for quite some time now, as various mining pools have started supporting Bitcoin Classic. However, not too many Classic blocks were mined on a daily basis, begging the question as to whether or not miners were even interested in the current block size debate. More recent Bitcoin block stats show how there are a lot of more blocks being mined as of late, with KnCMiner still leading the charge.

Also read: How Will Virtual Reality Affect Bitcoin And The Blockchain?

Bitcoin Classic Mining Gains Momentum

TheMerkle_Growing Support Bitcoin Classic

It has taken quite some time, but the support for Bitcoin Classic mining is slowly increasing over time. Although there is still a very long way to go before this software solution can be called a clear winner, the number of mined Classic blocks on the network has seen a healthy increase.

Based on the latest statistics found on the NodeCounter website, a total of 59 out of the latest 1,000 blocks on the network were mined by pools supporting Bitcoin Classic. It is rather significant to see this number go up after quite some time, as there is also more mining power directed at these pools than ever before.

The same mining pools are responsible for generating these Bitcoin Classic blocks, though. KnCMiner is still leading the charts, as they mined 40 out of the 59 blocks. Keeping in mind how this company is manufacturing mining hardware themselves, that could explain the sudden increase in mining power directed at Bitcoin Classic pools.

F2Pool is slightly ahead of Slush Pool for the time being, with 11 and 8 Bitcoin Classic blocks respectively. It is good to see a diversification of mining power among the bitcoin Classic mining pools, although it would not hurt to see more pools offering this option to its miners.  While it is true, individual Bitcoin miners can switch pools manually,

All in all, there is close to 118 petahash of mining power directed towards Bitcoin Classic pools, which shows a significant increase over the past 24 hours. Keeping in mind how the hashrate increased by over 50% during this period, things are getting kind of interesting. Only time will tell if this trend will continue over the next few weeks.

Source: Nodecounter

Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.