More than a year after leading an industry-wide delisting of Bitcoin SV (BSV) on crypto exchanges, Binance is now profiting from the mining of the cryptocurrency and at the time of writing, according to Coin, was the largest mining pool for the asset .tanzen.
Binance’s minance pool shown in the graphic below has mined more than 25% of the Bitcoin SV blocks that day and has more hash power than other miners, including Taal and other mining pools operated by the Calvin SV- Supporters Calvin Ayre are supported.
The date was April 15, 2019 when Binance responded to news about the self-proclaimed Bitcoin creator Craig Wright suing influential people in the crypto community. The exchange delisted BitcoinSV and a number of trading platforms followed, causing BSV’s price to drop nearly 100% in a single day.
Binance launched its mining pool with great enthusiasm last month and has now moved into the Proof-of-Work (PoW) -based cryptocurrency business, including Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin SV (BSV).
For miners, the business is to find the most profitable blockchain networks that can be mined in the short term. Last week, Coinfomania reported that the Bitcoin Cash (BCH) network did not add a single block for more than two hours due to a loss of miners’ interest.
With Coin.dance’s data also confirming that mining BSV was 5.1% more profitable at the time of writing, it’s understandable that Binance’s mining pool has focused much of its computing power on mining the altcoin .
However, the current scenario does raise questions about Binance’s previous decision to delist BSV, especially as the company invests in the asset and trades it but does not offer clients the option to do so on its exchange platform.
On the flip side, it also shows that Binance is on business and doesn’t mind bypassing its previous precedents to get the job done.
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