The leading Bitcoin mining hardware developer, Bitmain has announced the launch of a new Bitcoin mining pool. The mining pool named ConnectBTC is the company’s very first Bitcoin mining pool to be based away from China.
The Beijing, China-based Bitmain’s ConnectBTC mining pool is developed and maintained by the company’s research and development facility based out of Israel — Bitmaintech Israel. The company announced the new development in its latest blog post a few days ago. According to the blog, the ConnectBTC mining pool puts more power into the hands of mining community by providing them with real-time information and analytics.
The real-time information and analytics will come in handy for miners to keep track of their equipment performance and make necessary changes without relying on custom monitoring tools. In the blog post, ConnectBTC’s Manager Gadi Glikberg explains the difference between Bitmain’s latest mining pool and other currently available mining pools by saying,
“Our role as pools is to provide miners with liquidity and stability. We provide miners with real-time data in an easy to use UI while keeping payment plans simple and stable. In recent years, pools have come up with imaginative new payout methods that confuse customers and displace risks back to the miners. High subsidies on regular PPS plans allow miners to benefit from the increase in transaction fees while avoiding any risks.”
The mining pool, as well as the Bitmain’s Israel R&D Center, is managed by Glikberg who used be the vice president of sales at one of Israel’s budding cryptocurrency hardware startup Spondoolies Tech. With the introduction of ConnectBTC mining pool, Bitmain has further increased its influence on the Bitcoin network. The company already operates the largest mining pool, AntPool which commands over 15 percent of the total hashing power.
Bitmain’s ConnectBTC pool is open for Bitcoin miners to join, without having to configure the settings of their equipment manually. In the coming days, we can expect more information about the performance of the new mining pool as compared with others.