Binance expects to increase the share of hashrate from Russia in its mining pool
Binance expects to increase the share of hash rates from Russia and Central Asia in its mining pool. The company will install a separate server node for the region with the support of mining space provider BitRiver in Bratsk. Thanks to this, miners working with BitRiver will have better connection quality and direct access to the pool..
According to the Center for Alternative Finance at Cambridge University, Russia accounts for about 6% of the total computing power of bitcoin since the beginning of the year. Currently, nine of the ten largest Bitcoin mining pools in terms of hashrate are owned by either Chinese companies or exchanges that have close ties to the country..
According to CoinDesk estimates, the share of BitRiver miners in the bitcoin hashrate can be around 1%. Today’s announcement reflects Binance’s plans to attract miners from various regions.
BitRiver noted that the Binance Pool offers attractive rates for large miners, which are many of their clients. The company admits that the deal with Binance could lead to the fact that up to 50% of customers will switch to the exchange pool, leaving the BTC.com pool, first of all, owned by Bitmain..
Binance launched its pool in April and has so far increased the hash rate to 7.69 EH / s, which is 6.35% of the total cryptocurrency hash rate and allows it to occupy the 8th line in the list of the largest mining pools. Since its inception, Binance’s pool has mined 485 blocks or over 3,000 bitcoins.
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