Unknown Miners Control 70% of Bitcoin Cash Hash Rate
Main page News, China, Mining

The hash rate of the Bitcoin Cash network controlled by unknown miners has jumped to 68.75%, Trustnodes reports.

Last week, the hash rate belonging to unknown miners stood at 39%, however, it skyrocketed yesterday.

Judging from the comments made on a large number of transactions on Coinbase, a significant part of the cryptocurrency's hash rate is controlled by a single source:

The profitability of Bitcoin Cash mining is 2.9% lower than that of Bitcoin. At the same time, Bitcoin Cash represents just 1.2% of the total hash rate of three networks that share similar consensus algorithms, while in the case of Bitcoin this figure rises to 97.9%.

This dramatic change in the crypto's hash rate affects its security and makes it more vulnerable to 51% attacks.

Crypto trading platform Binance has recently said miners who prefer to mine Bitcoin Cash and Bitcoin SV suffer losses, while those who mine Bitcoin actually make profits.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error