bitcoin mining, miners, blockchain, Since the beginning of 2015, bitcoin startups have begun to abandon bitcoin due to the highly volatile price of bitcoin.
In January this year, bitcoin mining company CoinTerra was sued for over $5 million as it failed to pay its bills as the price of bitcoin dropped. Bitcoin firm Digital CC terminated its mining services as it was losing cash in the operations.
Therefore, it was necessary to know how the mining companies were performing now given that the price of bitcoin is almost twice of what it was at the start of the year. NewsBTC.com talked to three prominent companies in this field: F2Pool , BTCC , and Slush’s Pool , and here is what they had to say.
F2 Pool
“Right now we have ~15% more connection count than a few months before. The recent hashrate rise is mostly attributed to the availability of new generation of miners. For most users, one connection is one mining machine.
We took the liberty to ask if they expected the price rise to sustain going forward, and we were not disappointed. “I expect the price to rise in the next 6 months,” said a representative from F2Pool.
BTCC
BTCC’s chief executive officer Bobby Lee was very confident of witnessing a strong pick-up in bitcoin mining activity with bitcoin’s recent rally.“Bitcoin mining is more exciting again now that bitcoin prices have essentially doubled since earlier this year. I expect more mining activity and increased investments in mining in the coming months. The recent increase in bitcoin price means mining hardware is much more profitable for miners, as the latest generation ASICs were designed when bitcoin prices were much lower. In turn, this will lead to more people being interested in buying mining equipment. Mining activity will also increase because people […]
