A new mining operation in China may start affecting the Bitcoin (BTC) network soon as up to 100,000 ASIC rigs are being prepared for the Sichuan rainy season in May, according to a local media report. Led by Jank Group, the new venture is a significant arrival among Chinese miners and counts among its backers Bitmain co-founder and former CEO Micree (Ketuan) Zhou.
The Chinese publication suggests that Bitmain has a share in the mining operation through Fujian Chuangke. This 100%-owned subsidiary gives Bitmain up to 40% of the capital of Jank Group’s mining operat...