The Daily Hodl
Ledger Nano S - The secure hardware wallet
  • HodlX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • FEATURES
    • News
    • Bitcoin
    • Altcoins
    • Trading
    • Blockchain
    • Regulators
    • Finance and Economy
    • Cryptoculture
    • Scams
    • Mining
    • Crypto 101
  • Crypto Livewire
    • Press Releases
    • Submit
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • THE FUTURE
    • $3.1 Trillion Blockchain Future
    • 6,000 Stores in South Korea
      to Accept Cryptocurrency
    • 80,000 EU-based Merchants
      Can Accept Bitcoin
    • World’s Biggest Brands
      on the Blockchain
    • Despite the FUD,
      Bitcoin Adoption Is Surging
    • Japan Leads Corporate Crypto Bandwagon
    • Mainstream Crypto Payments in UK by 2020
    • Bitcoin Buys Two Condos in New York
    • World’s Smartest City
  • Submit
    • Guest Blog
    • Press release
    • Sponsored post
    • Crypto announcement
    • Personal crypto project
    • Guide or tutorial
    • Infographic
    • Opinion
  • Advertising
Close
The Daily Hodl
Close
  • HodlX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • FEATURES
    • News
    • Bitcoin
    • Altcoins
    • Trading
    • Blockchain
    • Regulators
    • Finance and Economy
    • Cryptoculture
    • Scams
    • Mining
    • Crypto 101
  • Crypto Livewire
    • Press Releases
    • Submit
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • THE FUTURE
    • $3.1 Trillion Blockchain Future
    • 6,000 Stores in South Korea
      to Accept Cryptocurrency
    • 80,000 EU-based Merchants
      Can Accept Bitcoin
    • World’s Biggest Brands
      on the Blockchain
    • Despite the FUD,
      Bitcoin Adoption Is Surging
    • Japan Leads Corporate Crypto Bandwagon
    • Mainstream Crypto Payments in UK by 2020
    • Bitcoin Buys Two Condos in New York
    • World’s Smartest City
  • Submit
    • Guest Blog
    • Press release
    • Sponsored post
    • Crypto announcement
    • Personal crypto project
    • Guide or tutorial
    • Infographic
    • Opinion
  • Advertising
Mystery Bitcoin Miners Are Gaining Influence on the BTC Network
Share:
Mining January 29, 2019 Daily Hodl Staff

Mystery Bitcoin Miners Are Gaining Influence on the BTC Network

 

An unknown group of Bitcoin miners are rapidly gaining a high percentage of the hashrate on the Bitcoin network. Crypto YouTuber Crypto Lark and other analysts are speculating on their identity. Possibilities range from wealthy oligarchs and state sponsored entities to private companies and Wall Street.

In a new video released by YouTuber Crypto Lark, speculations abound about the unknown Bitcoin (BTC) miners, covering the full spectrum.

  • Binance, the largest crypto exchange by volume
  • North Korea, suspected of orchestrating crypto exchange hacks
  • Fidelity, one of the largest investment management firms offering crypto trading and custody solutions
  • Samsung, manufacturer of Bitcoin mining chips for nearly a year
  • Iran, possible hub for older machines no longer turning a profit
  • Russia

The Bitcoin network is massive, with roughly 6.1% of the mining pools attributed to unknown groups, according to data compiled by Coin.dance.

Source: Coin.dance

Bitcoin mining requires a significant amount of electricity and computing power. Since Bitcoin is now trading around $3,450, down from its January 2019 high of $4,050, miners are struggling to break even.

But as the bear market continues and as large, heavily-invested mining companies that are mostly located in China continue to topple, a new collection of miners could redistribute power over the network and enforce decentralization.

Join us on Telegram           Follow us on Twitter

Check Out the Latest Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Tags: News

Crypto Livewire

  • Malta AI & Blockchain Summit Handing Out 100 Free Booths to Startups
    February 14, 2019
  • Wirex Integrates Nano, Providing Seamless Spending Anywhere Visa Is Accepted
    February 12, 2019
  • MiningSky: The Cheapest, Profitable Cloud Mining
    February 7, 2019
  • Altcoin Fantasy OKCoin Contest
    February 4, 2019
  • Malta AI & Blockchain Summit
    January 24, 2019
Submit a Press Release
 
 

Around the web

Ads by Cointraffic Ads by Cointraffic

Spotlight

  • Wall Street Powerhouse Reveals Bitcoin and Crypto Roll Out, Plus Ripple and XRP, Tron, Ethereum, Litecoin, Stellar, IOTA: Crypto Update
    February 1, 2019
  • Colombia and Venezuela Lead South America’s Cryptocurrency Revolution: New Dash Documentary
    February 9, 2019
  • Bigger Than Bitcoin? Crypto Traders Bullish on Uranium, Plus Ripple and XRP, Ethereum, Litecoin, Tron, Stellar, Bitcoin Cash, IOTA: Crypto News Alert
    February 18, 2019
  • Crypto Milestone: Argentina Accepts Bitcoin Payment for Goods Sold to Paraguay
    February 17, 2019
Cryptocurrency news and analysis, covering Bitcoin, Ethereum, altcoins and the blockchain
  • Altcoins
  • Bitcoin
  • Blockchain
  • Crypto Livewire
  • Crypto101
  • Cryptoculture
  • Finance and Economy
  • HodlX
  • Mining
  • Regulators
  • Scams
  • Trading
DailyHodl

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

 JOIN US ON TELEGRAM

COPYRIGHT © 2017-2019 THE DAILY HODL

We use cookies to give you the best online experience possible. By agreeing you accept the use of cookies in accordance with our cookie policy. I Accept