Bitland's BTC power share fell 88 per cent, betting on the launch of its flagship product

Coindesk (Coindesk)reports, BTC mining capacity of bitland decreased by 88%.

According to the Chinese cryptocurrency mining giantBit mainland & NBSP;May 7 release of force update data disclosure, bitThe continent's BTC calculation force is in the past 30There was a significant drop in the days.

The SHA256 hash algorithm used to mine the network for bitcoin (BTC) dropped from 1,692.35 trillion hashes per second (PH/s) in March to 237.29 trillion hashes per second in early may, based on an analysis of all the mainstream bitcoin hashing hardware data updated every 30 days. This marks a significant decline in bitmainland's ability to mine bitcoin.

Bitland has been reporting its mining power every month since last July. According to the online archive page, the power was 1,692 hours per second in July, then increased to 2,339 hours per second in October. By march, that had fallen below 1,700 hours per hour, in line with the overall decline in the total computing power of the bitcoin network since November, when the price of bitcoin fell below $4,000 per hour. Then there was another small increase in power in early April, but the latest big drop came soon after.

As of January 2019, two mining pools operated by bitmainland's Antpool and BTC.com accounted for nearly 23 percent of the total bitcoin mining power. However, six months ago, the company's pools accounted for 41 per cent of the market, meaning its share has been steadily falling.

Assuming all the computing power comes from the widely used AntMiner S9 machines, each with a hash speed of 14 terabytes per second (TH/s), bitland has probably stopped using more than 130,000 miners to mine for itself.

It's important to note, however,This is not to say that bitland has shut down its mining operations.

And while their share of computing power has declined, bitcoin's overall network power is growing: on May 2, according to blockchain.info, bitcoin's total hashing power hit a six-month high of more than 58,000 hours per second.

At the same time, data show that the computational power of the BCH network has been stable at around 2,000 to 2,500 hours per hour since the beginning of the year. BCH had been receiving strong support from bitland.

"Bitmainland is betting on its next flagship product, which is set to be released before the end of the year, to be a winner in the mining equipment market and is expected to take advantage of the market's rebound," said a bitmainland source who asked not to be named.

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