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Usha Yadav
Jul 27, 2022
by Usha Yadav

AntPool Supports Ethereum Classic Ecosystem With $10M Investment

AntPool Ethereum Classic

Table of contents

  1. Bitmain Selling New Ethereum Mining Rig
AntPool's CEO Lv Lei announced at Bitmain's World Digital Mining Summit on Tuesday that AntPool, the mining pool associated with mining rig behemoth Bitmain, has contributed $10 million to assist the Ethereum Classic (ETC) ecosystem and intends to continue doing so.

Ethereum Classic will continue to use the Proof-of-Work (PoW) methodology while the Ethereum network works to switch to a Proof-of-Stake (PoS) model. With PoS, Ethereum will fundamentally alter how it verifies blocks, adds them to the blockchain, and creates new ether (ETH).

By doing this, the demand for specialist mining rigs like those produced by Bitmain will disappear. These rigs will continue to mine Ethereum Classic's native currency, ETC. To improve the network's overall performance, the initial $10 million investment was used to create and test applications for the Ethereum Classic mainnet.

Bitmain Selling New Ethereum Mining Rig

Early in July, Bitmain began selling the Antminer E9, its most recent Ethereum mining device. The second-largest cryptocurrency network is moving away from Proof-of-Work (PoW) technology. Still, Bitmain, the world's top maker of bitcoin (BTC) miners, will begin selling a new Ethereum rig model on its website. Additionally, the manufacturer of the mining rigs declared that it will now take ETC payments for all of its Antminer models during the World Digital Mining Summit in Miami.

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Bitmain mining pool AntPool Ethereum Classic Ecosystem
AntPool Supports Ethereum Classic Ecosystem With $10M Investment
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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