Hashrate of Mining Pools Supporting Bitcoin Classic Reaches 51%

Antpool, a bitcoin mining pool owned by leading bitcoin mining hardware manufacturer Bitmain Technologies Ltd. has officially marked the start of the production of Bitcoin Classic blocks on February 16, 2016.

Bitmain’s Antpool is by far the largest bitcoin mining pool in the industry, and controls over 26% of the Bitcoin network’s hashrate distribution. Hashrate is a measuring unit used to estimate the processing power of the Bitcoin network. Miners must generate an adequate level of hashrate to find blocks of transactions on the network, to secure and encrypted payments. Currently, Antpool generates 289.6 petahashes per second, with its 478,683 workers.

The official support from Bitmain/Antpool totals the number of Bitcoin Classic miners to seven, including other major bitcoin transaction processing firms such as BitFury, BW, HAOBTC, KnCMiner, Genesis Miner and Avalon Miner. With BItFury, KnCMiner and BW controlling 25% of the bitcoin mining pool market share, essentially, the hashrate of mining pools supporting Bitcoin Classic amounts to a staggering 51%.