Bitmain’s Massive Bitcoin Cash (BCH) Hoard: What Lies Beneath?

Bitmain may possess one of the largest reserves of Bitcoin Cash (BCH), surpassing the forked rewards allocated to Satoshi Nakamoto, the founder of Bitcoin. This indicates that Bitmain might have a particular interest in the initial and most controversial fork of Bitcoin.

The question arises: what motivates Bitmain to maintain such a significant BCH wallet? The funds were accumulated through various methods. One approach was early mining, during which the community observed that Bitmain appeared to be mining a majority of the blocks, even in periods when the network was less profitable. Additionally, Bitmain exchanged some of its Antminer S9 rigs for BCH when the price was above $1,000. Lastly, Bitmain expanded its BCH holdings by selling Bitcoins.

Bitmain’s decision to retain its stash has sparked a range of reactions, from skepticism to speculation about the company’s true intentions. This situation continues to intrigue the cryptocurrency community.