Mining Pool Has Mined $250 Million in Bitcoin in One Year | NEWSBTC

By Eric Calouro August 4, 2014 15:37


Popular bitcoin mining pool operator has taken no shortage of criticism over the past few months, but they’re still not shying away from showing off their mining power.

The pool, which launched over a year ago nowstealthepixels-faucet-banner-160x600 in 2013, has generated nearly $250 million USD with the combined power of all miners across the world connected to the pool.

That’s 413,752 bitcoins, if you were wondering.

The information comes from an infographic released by the pool operator, which reveals other interesting statistics. (You can view the infographic by clicking here).

The pool has consumed 159.5 million KW/H of electricity since launch, which is certainly impressive. has taken a beating in the bitcoin community for on multiple occasions approaching the 51 percent mark of total network hashing power, which could open the doors to malevolent attacks on the network.

The pool has, however, promised the community they would never allow themselves to get that far, most recently committing to stay below the 40 percent level.

A July statement from the operator read:

Based on the closed round table discussion, which took place on July 9th in London, GHash.IO states that it will not exceed more than 39.99% of the overall Bitcoin hashrate. If GHash.IO approaches the respective border, it will be actively asking miners to take their hardware away from GHash.IO and mine on other pools.

The pool has remained an attractive option for miners in the bitcoin community, mostly due to lack of fees and instant payouts.

Whether or not you support their rapid growth, they must be doing something right.

via Mining Pool Has Mined $250 Million in Bitcoin in One Year | NEWSBTC.

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