What happened to Lubian mining pool?

dkbit98

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Quote from: SFR10 on September 15, 2021, 02:32:19 AM

Based on the location of the miners ^{[Iran - most of them]} and the timing of the events, I have a strong feeling it has something to do with the new president and government in place ^{[I could be wrong]}.

I think that Iran recently allowed Bitcoin mining again, and they usually have electricity restrictions with blackouts during summertime so government decision for stopping mining was only temporary.

According to one news article Chinese mining pool Lubian said that they are building largest compliant mining farm in Iran, and they are not the only one from China doing that because of cheap electricity.
Lubian was also having mining farms in China’s Sichuan province, and we all know what happened there with government ban, so they probably had to shut down there.
https://news.8btc.com/china-based-lubian-com-boasts-the-largest-compliant-bitcoin-mining-farm-in-iran

SFR10

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Not sure if you're the one who published "this" article ^{[because of its date]} or you were simply inspired by that article, but regardless of the answer, make sure to always include the source ^{[you might want to edit your post and add the source in question]}!
^{- It's not direct plagiarism, but still...}

Quote from: flip4flop on September 14, 2021, 10:47:56 AM

I was curious as we usually can trace or see where most of those miners move when larger pools shut down.

But we're not dealing with a normal pool here. They chose to stay under the radar from the beginning and they kept it until the very last days of their operations.

Quote from: flip4flop on September 14, 2021, 10:47:56 AM

Anyone happen to know what happened to them?

The only thing that I could find about them was this:

Quote from: https://news.8btc.com/china-based-lubian-com-boasts-the-largest-compliant-bitcoin-mining-farm-in-iran
Said Liu Ping, one of the cofounders of Lubian.com, their group cooperates with a local private power plant, whose investors are Chinese and Iranians, the plant generates electricity by burning waste and energy.
~Snipped~
Said Liu Ping, there are four partner shareholders of Lubian.com, who control all the computing power, and they never participate in any activities in the crypto space.
For those that are interested in connecting the dots, their "address" still has a lot of BTCitcoin ^{[they might move it in the near future]}.

Based on the location of the miners ^{[Iran - most of them]} and the timing of the events, I have a strong feeling it has something to do with the new president and government in place ^{[I could be wrong]}.

flip4flop

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I suppose they probably shut down well before the mining ban in China but seems odd they vanished. Back when they were active they were mining around 174 block per month from April 2020 until Feb 2021 when they just stopped with 1 block mined in March. Looks like they rebranded the website Roadside Mining but they are not doing anything at all. Looks like they should have amassed about $1billion worth of BTC in that time frame. Most of the miners seemed to have been located in China and Iran. I was curious as we usually can trace or see where most of those miners move when larger pools shut down. Anyone happen to know what happened to them?

Topic: What happened to Lubian mining pool? (Read 118 times)