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A New Mining Pool Surfaces While Others Reduce Hash Power
A New Mining Pool Surfaces While Others Reduce Hash Power

Who is Behind the Mysterious Pool & Why are They Signaling Hashpower As Buffet?

Earlier today a new mining pool has surfaced in the world of Bitcoin mining. The new mining pool called Lubian has shot up to #7 on the list of leading miners with a hash-rate of 6344.77 PH/s. Very little information seems to exist online regarding the new exchange, giving it a bit of a mysterious aura.

 

Lubian and Bitcoin Mining

Crypto-influencer and founding partner of Primitive Ventures, Dovey Wan made note of this earlier on Twitter. To make matters a bit stranger, Lubian has been signaling its hashpower as /Buffet/, a nod to crypto-skeptic investor Warren Buffet.

 

 

The timing of Lubian's launch is indeed interesting. The new pool has launched just a day after Bitcoin's (BTC) halving, while most other pools have experienced a decrease in hash-rate of between 3% - 25%.

Additionally, there seems to be very few details on the internet regarding Lubian, besides their website and an email address. We have reached out to them but have yet to receive a reply.

A brief check of Lubian.com on who.is does not seem to reveal much as the owner's name is masked. All that is known is that the domain was registered in 2004 and updated on the 9th of May with its current content. No social media channels exist yet for the new mining pool.

While Lubian may seem mysterious currently there are plausible explanations for its sudden roll-out. One is that Lubian was previously a large private miner or miners that have expanded and launched a pool. Another possible yet less likely scenario is that some miners have left more established pools and founded a new pool a few days before the halving.

New details regarding the mining pool will likely surface in the near future. Should they wish to attract more miners, Lubian will probably need to list their staff and open social media channels.


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Written by Jonathan Ganor

Writer & cryptocurrency aficionado

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