Within the block reward mining industry, a growing trend as of late has been the rise of the North American market as a destination for companies looking to set up mining facilities and access capital markets. Now, this trend is expanding to include pool operators looking for alternative locations outside of East Asia.
Recently, software maker Titan Industries revealed the creation of a North American digital currency mining pool dubbed “Titan Pool.” Titan Pool seeks to connect regional BTC miners together by offering them the same operational efficiencies that miners in other regions enjoy.
In its announcement, the firm noted how “Asia and Europe account for nearly all mining power on the Bitcoin network, with the vast majority of pools based in China.”
“The Titan Pool offers a powerful North American alternative and a way for the continent’s Bitcoin miners to achieve the efficiency and scale enjoyed by miners in other regions,” it added.
Currently, the vast majority of the BTC hash rate generated comes from China-based mining pools. Many within the BTC community see this geographic centralization as a threat to BTC’s security and a conflict with its stated principles of decentralization.
Titan Pool claims to offer a competitive hash rate with globally distributed pools and a suite of reporting on metrics and cost. It also promotes having a more straightforward participation agreement that contrasts with participating in foreign pools. Their team has already signed up Coinmint and Core Scientific as partners.
Titan Industries was created by the executive team behind blockchain organization Bloq. The company is most known for providing the digital currency mining software suite used by industry players in the BTC mining space.
If the team at Titan truly wants to enable participants to maximize their ROI, they cannot limit their community to only mining tokens on the dying BTC chain. Bitcoin SV (BSV) is economically worthwhile to mine and the only token with long-term potential for mass user adoption. Because of this, interest in BSV is rising.
There is a pent-up demand from supporters looking to help power the BSV blockchain. The blockchain community made this clear when Binance launched its pool offering earlier in the year. Hopefully, Titan is aware of this misstep by Binance, so history does not have to repeat itself with North American miners.
See also: TAAL’s Jerry Chan presentation at CoinGeek Live on The Shift from Bitcoin “Miners” to “Transaction Processors”
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