Bitmain, the company founded by Jihan Wu and specializing in cryptomining, adds another milestone to its successful history. You become one of the 21 block producers in the EOS ecosystem.
The Chinese company dominates both in mining hardware and in the Mining Activity segment. As a result, it can generate synergy effects from both business segments.
Bitmain enters the EOS Universe
However, the world of cryptocurrencies is a lucrative business. Bitmain gives the impression of not being satisfied with the mining of Bitcoin and Bitcoin Cash. A few hours ago, the company announced via Twitter that they have received enough votes to become one of the 21 block producers of EOS.
This allows EOSAntPool blocks to “forge”, ie to forge new data blocks to the block chain. In addition, Bitmain can also influence the elections in the network.
According to the EOSAntPool tweet, the Mining Pool has now received more than 51,000 votes. That means a daily bonus distribution of 840 EOS. Time of writing is trading an EOS for 7.29 euros. Thus, 840 EOS correspond to a daily profit of 6,123.60 euros.
If one assumes that the value of an EOS will remain constant in the following year and if one takes the figures from the previous year from Bitmain as the basis, an annual profit of 2.18 million euros is calculated. This equates to about 1 percent of Bitmain’s total profit.
The Bitfinex trading platform is also similar: with a total of 1,020 EOS bonus distributions per day, the stock exchange, which has recently been confronted with allegations of price manipulation in the entire crypto market, is currently the largest block producer in the network.
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