Mining two competing chains after the Bitcoin Cash (BCH) hard fork of November 15 turned out to be an expensive exercise, costing each side around $3 million in electricity bills. Total losses for the miners amount to $18 million, according to Bitmex Research, whose calculations also account for missed rewards.
The new estimate is much lower than previously reported numbers, which also factored in trading losses. The hash wars triggered large sell-offs across the entire market, wiping out as much as 75% of BCH prices.
At present, both chains show regular, subdued mining levels, almost identical around 1 PH/s and with no signs of competition. However, the two coins are now fighting for both influence and excha…
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.