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What does the miner steward do (miner steward pumping)?

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What does the miner steward do? Mining to make money, making the operation of t

What does the miner steward do (miner steward pumping)?

What does the miner steward do? Mining to make money, making the operation of the mine more professional.

In the traditional internet, “miner hosting” refers to directly handing over the machines to the company, and after running them on the network for a period of time, they are sold. This model can bring huge profits to the industry, and at the same time, reduce the cost of manual mining to achieve profitability. However, traditional power plants and servers need to be responsible for maintaining and updating the system independently to ensure the security of the entire system. The same goes for Bitcoin, which has always been regarded as an asset and gradually becomes an emerging investment category over time. So why is this necessary? Because miners usually use cloud computing power services, such as Bitmain’s Antminer M3, they provide their own technical support, but these platforms do not have professional software development experience, so they cannot fully meet the requirements of customers. Therefore, miners have the following characteristics: (1) distrust of miner merchants; (2) large trading volumes; (3) extremely high operational risks; (4) lack of unified standards (including laws and regulations).

Miner steward pumping

According to reports, according to OKEx mining pool data, a total of 2.175 billion USDT was liquidated in the past 24 hours. Among them, the liquidation amount of BTC reached as high as 377 million US dollars (30.19% of the total), and the liquidation amount of ETH reached 1.373 billion yuan (+14.86%). In addition, today’s fastest-growing network computing power is the Antminer S9, and the mining difficulty has been increased by 15.9%; prices of cryptocurrencies such as BCH and BSV have also risen significantly.

At block height 530,000, some users discovered that the exchange had started to empty all currencies in large quantities and closed some trading pairs and deposit and withdrawal services. Subsequently, Huobi Global announced that it will suspend the deposit and withdrawal of some newly listed currencies.

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