Mining Pool AntPool Invests $10M in Ethereum Classic Ecosystem
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28 July

AntPool, a Bitmain-affiliated mining pool, has just announced it has made a $10 million investment in the Ethereum Classic (ETC) ecosystem.

The news has been received with optimism by the community, as the price of the asset has surged following news of the investment.

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AntPool has said:

"Let's support the ETC ecosystem and incubate high-quality PoW projects."

The company CEO Leon Lv has said during the World Digital Mining Summit 2022 conference that the pool plans to increase the volume of investments in the future.

For mining ETC and Ethereum the Ethash algorithm is used. The developers of the second largest crypto by market cap have previously scheduled The Merge update for September, during which the blockchain will switch to the proof-of-stake (PoS) consensus algorithm.

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