Chinese mining pool Poolin, which ranks second in terms of hashrate in the world, has absorbed the NovaBlock pool in order to expand into the North American market.
The hashrate migration is scheduled to end on February 8. The NovaBlock hashrate is just over 1 hash per second, and Poolin miners generate 12.28 Eh/s (on a seven-day moving average). After the absorption, the total Poolin hashrate will reach 13.35 Eh/s. Despite the takeover, Poolin will remain second in the pool ranking — the first place is occupied by F2Pool with a hashrate of 15.8 Eh/s.
After transferring the hashrate to Poolin, NovaBlock will continue to work independently, said Alejandro De La Torre, vice president of the Chinese pool. Other aspects of NovaBlock’s business will also remain unaffected.
As one of the main reasons for choosing NovaBlock, De La Torre cited Poolin’s desire to become an “international pool”, and the NovaBlock hashrate “helps in achieving this goal”.
Also, the vice president of Poolin noted that in the future, Pool plans to expand the functionality of its Poolin Wallet. Another priority for the company is the development of the MARS project, which ” connects centralized and decentralized funding for bitcoin mining.”
Recall that the growth of the cryptocurrency market allowed bitcoin and ether miners to earn more
than $1.89 billion in January. At the same time, bitcoin miners received $1.09 billion, and the remaining $800 million fell to the share of ETH miners.