Bitcoin Miners Face Fight for Survival as New Supply Halves

New Bitcoin miners

Bitcoin Mining / February 17, 2020

An R&D division of mining giant Bitmain has launched a new pool.

Having mined its first block as part of a closed beta three months ago, BitmainTech Israel Ltd is now opening its ConnectBTC pool to global bitcoin miners, inviting them to run the software as a way to combine resources with other miners and better compete for bitcoin's rewards.

ConnectBTC manager Gadi Glikberg explained that the pool was written from scratch by a team independent from Bitmain's signature AntPool operation – a mining pool that's currently the leader in combined hashing power, according to data from Blockchain.

"We believe in this manner we can make sure we serve the mining community with the best possible products, " Gilkberg said.

Notably, ConnectBTC appears to be operating slightly out of step with its parent company, which has been one of the more vocal proponents of the idea network participants should run alternative software versions that would expand the size of the transactions blocks it can process.