RATE Group | Japan’s Internet Giant GMO Abandons Bitcoin Cash Mining
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Japan’s Internet Giant GMO Abandons Bitcoin Cash Mining

25 Aug Japan’s Internet Giant GMO Abandons Bitcoin Cash Mining

Posted at 04:58h in Bitcoin News by

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Japanese internet giant GMO has switched its entire mining capacity from Bitcoin Cash (BCH) to Bitcoin (BTC) as of July 2018.

GMO Mines 568 Bitcoin Blocks In July

A copy of the company’s monthly mining report uploaded to social media by cryptocurrency business investor Trace Meyer confirms that in July, GMO mined 568 Bitcoin blocks and 0 Bitcoin Cash blocks.

The result of a sliding trend throughout this year, the statistics contrast sharply with the company’s strategy as it appeared in January when it mined just 21 Bitcoin blocks but 213 Bitcoin Cash blocks.

Linking to tongue-in-cheek Bitcoin fork monitoring site fork.lol, Meyer struck a critical tone focusing on BCH, suggesting GMO had deliberately pivoted away from mining it due to various challenges the altcoin faces.

Among these are previous revelations that hackers could ostensibly launch a 51 percent attack on the BCH network for less than $40,000, potentially causing a network fork and de facto disabling transaction…

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