Bitmain Founder Jihan Wu: “Bitcoin Will Be Worth $100,000 in 5 Years”

Bitcoin, which is thought to be accepted as a global currency in the future, has recently started to attract a lot of attention.. The number of top tier individuals and institutions is increasing day by day, thanks to its exceptional price performance and developing regular landscape.

History of Bitcoin mining

Bitcoin as mining occurs after a process described. Miners have to solve complex math problems and if they succeed they add a new block to the Bitcoin Blockchain.. For each successful block they add, they earn 12.5 Bitcoins.

Bitcoin and its expanding work

Bitcoin mining is quite lucrative, especially in areas where energy and labor are cheap.. Founded in 2013, Bitmain is among the world’s leading Bitcoin mining companies and uses ASIC Chip Technology to manufacture customized computers for mining.

The company was originally founded by Antminer. Although it started with the product called S1, it now offers much more advanced miner computer options.. This is very important as problems become more difficult as technological equipment develops.. Miners have to use more advanced ASICs to keep up with these advances. Jihan Wu, one of Bitmain’s co-founders, runs a mining center called Antpool as well as a hardware manufacturing venture.. Antpool currently holds the title of the world’s number one mining hub.

Bloomberg reporter Tom Mackenzie, to get a first-hand look at how it all works, 25,000 nonstop Bitcoin mining for the benefit of Bitmain company.

During an interview with Mackenzie, Wu:

“Bitcoin will be worth $100,000 in 5 years.” He spoke confidently.

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