Chinese Bitcoin mining startup Lubian becomes Bitcoin's 6th largest miner just 2 weeks after its launch

posted 3 months ago
A new Chinese Bitcoin mining startup broke into the top-ten hash power providers last week. Reportedly launched just two weeks ago, Lubian is now ranked sixth among all miners. The firm now accounts for 6% percent of Bitcoin’s hash power and provides a steady hashrate of over 7 EH/s. Lubian mined 27 blocks since last weekend, collecting over 337.5 Bitcoin in rewards (pre and post halving) generating ~$3 million at current Bitcoin prices.

While few details of the startup exist online, it’s homepage touts faster settlement times, globally positioned nodes, and “uninterrupted” service for customers. “Original” mining architecture, security against hash rate attacks, and a “leading” mining algorithm are listed as some other features. Additionally, we already know hydro electric power is commonly used to mine Bitcoin during the rainy season in China as well.
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