Bitcoin SV Miners Saw Gross Losses of $2.2 Million Since Fork: BitMEX

April 13, 2019
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A recent report estimated that Bitcoin SV miners have accumulated gross losses of $2.2 million.

A tweet published on April 12 by the research arm of major cryptocurrency derivatives platform BitMEX estimates that Bitcoin SV (BSV) miners have accumulated gross losses of $2.2 million.

The report released by BitMEX Research claims that BSV miners perceived a negative gross profit margin of 12% since the coin was created in a hard fork that split Bitcoin Cash (BCH). The estimate is based on mined coin count, current coin prices and lower bound mining electricity costs.

The tweet notes that, among costs, the estimate accounts for mining electricity only.

In November, in the run up to the BCH hard fork, BitMEX research launched a network monitoring tool for Bitcoin (BTC) and Bitcoin Cash. The resource, dubbed Forkmonitor, provided the data that BitMEX referred to in yesterday’s tweet.

In March, BitMEX Research also launched an Ethereum (ETH) node metrics website. The site, called NodeStats, shows data about five different ETH nodes and updates every five seconds. The website has been launched in partnership with BitMEX Ethereum data partner TokenAnalyst.

As Cointelegraph reported yesterday, the founder and CEO of major cryptocurrency exchange Binace, Changpeng Zhao, warned that he will delist BSV if the creator of the altcoin, Craig Wright, does not alter his behavior.

The reaction from Zhao is seemingly motivated by the fact that Wright recently set a bounty over the identity of a Twitter user that called him a fraud for his claims to be Satoshi Nakamoto, Bitcoin’s creator.

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