BTC.com To Start Offering Ethereum Mining Pool
BTC.com, a subsidiary of Chinese computer software company Bitmain Technology Ltd, has recently tweeted about a meeting with Coindesk. Currently known for operating the largest mining pool of Bitcoin, the company is set to launch a mining pool for Ethereum and Ethereum Classic - giving miners the choice to sell their earned Ethereum.
Miners will be able to switch their hashing power between Bitcoin, Bitcoin Cash, Ethereum and Ethereum Classic; whichever is most profitable. Expanding their mining pool options to include Ethereum could suggest demand and profit in cashing out crypto in alternative mining.
There will be a choice between GPU and CPU mining through BTC.com. GPU mining’s popularity has increased greater than CPU as it can offer more hash power at a cheaper cost. Standard computers can use both CPU mining, a processor-based algorithm, and GPU which solves graphics algorithms. Integrating both options opens BTC.com to potentially expanding the coins available to mine through their pool. Users may even be able to mine and sell Litecoin in the future.
The Ethereum network requires substantial infrastructure and power to process its smart contracts. Bitmain’s project director Zhong Zhuang has stated the move is to ‘help Ethereum scale its mining infrastructure’. Ethereum is currently the 2nd largest cryptocurrency by market capitalisation, suggesting a need for more infrastructure as the network expands. Ethereum founder Vitalik Buterin hasn’t decided if capping the supply of Ethereum will be beneficial to the decentralised service platform. With no cap on the Proof-of-Work algorithm miners can continue to sell the Ethereum they mine. However, as the network difficulty increases it takes longer to solve the algorithm and be rewarded.
We are seeing more and more mining alternatives to Bitcoin with larger companies getting involved. We could see users moving from the previously profitable Bitcoin mining to other alternatives.
Don’t forget you can sell crypto earned through mining on our platform BC Bitcoin as well as keeping yourself up to date with the latest developments in the crypto space.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards