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by Cybourgeoisie
3230 days ago
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They are likely mining Bitcoin Cash, a recent fork of Bitcoin. It is currently more profitable for miners to mine Bitcoin Cash, so a large number have opted to switch over until the profitability ratio flips back to Bitcoin. There is more information about the relative hash rates for both chains at http://fork.lol. |
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Secondly, as transaction fees are a supply and demand system, demand for transactions on BTC (tx demand on BCH is negligible) can shift that profitability ratio simply by paying higher fees. AFAIK miners aren't setup to switch back and forth on a block-by-block basis yet, but I wouldn't be surprised if they start to do that in the future.