China's Bitcoin Mining Firms Hold Energy Conference

Topics discussed included hydropower, wind power, electricity prices, specific mining cooperation, and a demonstration of the latest Bitmain Miner S9, which is said to be the most advanced mining equipment currently available.

The event took place on the day of the reward halving, with BitFury’s hashing share halved and BW’s nearly doubled. At the same time, mining projects have shifted more to China, which controlled more than 50% last year and now controls more than 80%.

In China, Bitmain currently has the largest hashrate, controlling over 22% of the network. They are one of the few mining companies that operates the entire mining cycle, including chip design, manufacturing, selling mining gear, mining with the gear they design and manufacture, and a pool system, employing 100s of people, from researchers to factory workers.

Their operation is currently very successful, with investments in a range of Bitcoin-related companies. Now, with cheaper electricity prices, they may be able to make more profits. However, it is difficult to predict this because mining is the only old brand that does not remain in the Bitcoin economy, and the hash shares controlled by companies and individuals are relatively new.