First look at BW, one of the oldest and largest Bitcoin mines in China

BW is a leading Chinese Bitcoin mining company, which owns about 8% of the world's total computing power. The company is trying to move from an unknown position to the public and the stage, using efficient and cheap hydroelectric power as a selling point to attract the attention of industry insiders. This time, BW not only plans to go global, but also plans to launch their new products in the next few months, including 14纳米chips and new mining machines equipped with the chips.

"We are very excited about our current achievements!" said Virgilio Lizardo Jr., head of bitbank's overseas marketing department and the subject of this interview with Bitcoin Magazine. "This chip is the product of cutting-edge technology, and we are very proud of it. We will also sell our chips to the general public. The computing power, efficiency and noise reduction of the new generation of chips will set new standards in the market."

Details about the technology will be revealed in the coming weeks.

BiWang was jointly established by LongKuang Technology and China Bitcoin on August 10, 2014. BW stands for BiWang in Chinese and bitcoin website in English. Zhai Wenjie, the CEO of LongKuang, will also serve as the CEO of BiWang, while Hua Songxiu, the CEO of China Bitcoin, will serve as the CTO of BiWang. LongKuang Technology will be a subsidiary of BiWang.

In 2015, BW joined Bitbank, a Chinese Bitcoin family, with the goal of finding cleaner and more efficient energy for mining. In the past few years, Bitcoin has been controversial because of its energy consumption. From an economic and energy perspective, the electricity used to run mining machines and cool them is very expensive.

BW believes that mining both metals and Bitcoins will have an impact on the environment, but using abundant hydropower in remote mountainous areas of China is a green way to minimize the impact. In addition, because it is in the mountainous area, BW can purchase electricity at a very low price.

“Hydropower provides a long-term, low-cost and stable electricity source. It has the potential to stimulate the growth of mining machines in the future. Investments such as building mines in mountainous areas can also stimulate local economic growth and provide employment opportunities. These places are often beautiful and rich in water. We hope to protect such resources to the greatest extent for our future generations.” - Biwang

In addition to taking the lead in protecting the natural environment, BW also hopes to protect the environment of Bitcoin. As it grows and expands, more Chinese miners will mine with cheap hydropower resources. BW is also concerned about the issue of mining centralization in China.

“In China, most of the current Chinese miners are Bitcoin enthusiasts who see the potential for development in Bitcoin and are willing to do their best to promote the good development of Bitcoin, which involves our network share and becoming a stakeholder in this ecosystem.” - CoinNet

BW believes that the Chinese government will play a supporting role in this. The government encourages mining because Bitcoin is a technology that combines computer software and hardware, and they have also seen the benefits that can be brought about. Recently, Bitbank entered the Zhongshan Innovation Financial Street in Guangdong. The city plans to invest 67 million in emerging industries in the next five years.

During the period when the Bitcoin protocol was unstable, developers were arguing over the issue of block expansion, and BW played the role of a cautious observer. At the same time, as one of the top five Bitcoin mining pools in the world, BW also decided to assist the Bitcoin community in communication.

“Although Chinese miners play an important role in the development of Bitcoin, we still feel that there is a wall between China and the world, perhaps more like the Great Wall. There are many factors at play, including language, culture, distance, etc.; BW will strive to help the Chinese mining industry communicate with people around the world.”