AntPool, the second-largest Bitcoin (BTC) mining pool, mined seven consecutive blocks on Could 17, sparking worries inside the cryptocurrency neighborhood about community safety.
This collection of blocks confirmed 20,686 transactions, leading to over 23 BTC, valued at roughly $1.54 million in income.
The mining spree occurred between block heights 843,898 and 843,904, lasting one hour and 38 minutes.
Knowledge sourced from mempool.house reveals that AntPool accrued 1.283 BTC in charges along with 21.875 BTC from the block subsidy.
What provides intrigue to this growth is the involvement of Foundry USA, the biggest Bitcoin mining pool, which mined the block previous this sequence and the next two blocks.
AntPool has mined 25.48% of all blocks within the final seven days, trailing behind Foundry USA, which holds 31.12% of the community’s hashrate.
Collectively, each firms preserve a 56.6% mining dominance. In October 2023, Antpool briefly challenged Foundry’s management for 3 days.
This occasion underscores the inherent dangers linked with centralized mining swimming pools, notably the susceptibility to assaults comparable to double-spending and transaction censorship.
Observers famous that AntPool and Foundry now management over 50% of Bitcoin’s hash price, elevating issues about potential centralization and transaction censorship.
“Such power concentration poses an existential threat to Bitcoin’s decentralized nature and its foundational principle of trustlessness,” TOBTC Buying and selling LLC posted on social media.
AntPool was based in 2013 by Bitmain Applied sciences, a distinguished producer of mining {hardware}.
It’s based mostly in Beijing.
Nationwide safety issues over crypto mining
The U.S. authorities has instructed a Chinese language-backed cryptocurrency mining firm to halt the development of a mine in Wyoming.
In accordance with a Could 13 order signed by President Joe Biden, MineOne Cloud Computing Funding and its companions are mandated to dump the property adjoining to the Francis E. Warren Air Pressure Base in Cheyenne, Wyoming.
MineOne Companions Ltd. is a Chinese language-backed cryptocurrency mining firm that deliberate to accumulate land close to the Francis E. Warren Air Pressure Base in Cheyenne, Wyoming
The order, issued in collaboration with the U.S. Committee on Overseas Funding in america (CFIUS), goals to handle issues surrounding potential dangers related to overseas possession of land adjoining to delicate army installations, notably in proximity to a nuclear missile base like Warren AFB.
The chief order mandates the divestment of MineOne’s crypto mining facility and the removing of Chinese language-owned tools from the positioning inside particular timelines to make sure compliance and mitigate dangers.
In different reviews, regulators in Norway have proposed new laws aimed toward tightening rules on cryptocurrency mining actions carried out by knowledge facilities working inside the nation.
The brand new regulation, aimed toward regulating knowledge facilities, is poised to turn out to be a pioneering framework in Europe, requiring complete registration of information heart operators and disclosure of companies supplied.
The Norwegian authorities, led by Digitalization Minister Karianne Tung and Power Minister Terje Aasland, emphasizes the necessity to curb tasks deemed undesirable, notably singling out cryptocurrency mining resulting from its substantial greenhouse gasoline emissions.
Power Minister Terje Aasland explicitly said that Norway doesn’t welcome companies searching for to use the nation’s power assets cheaply, aligning with the nation’s environmental objectives.