Share this article
AntPool Supports Ethereum Classic Ecosystem With $10M Investment
The mining pool is throwing its weight behind the Ethereum-offshoot alternative that will continue to mine using proof-of-work.
Updated May 11, 2023, 4:18 p.m. Published Jul 26, 2022, 7:01 p.m.
MIAMI — AntPool, the mining pool affiliated with mining rig giant Bitmain, has invested $10 million to support the Ethereum Classic ecosystem and plans to continue investing more, the pool's CEO, Lv Lei, said at Bitmain's World Digital Mining Summit on Tuesday.
While the Ethereum network is working to convert to a proof-of-stake (PoS) model, Ethereum Classic is slated to remain proof-of-work (PoW). PoS will drastically change how Ethereum validates blocks, adds them to the blockchain and issues new ether . In doing so, it will eliminate the need for specialized mining rigs, such as the ones Bitmain makes.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Ethereum Classic, however, will continue to mine its native ETC cryptocurrency using these rigs.
The initial $10 million investment went to the development and exploration of applications of the Ethereum Classic mainnet, as to promote the overall performance of the network.
Bitmain started selling its latest Ethereum mining model (the Antminer E9) earlier in July. The mining rig manufacturer also announced at the World Digital Mining Summit in Miami that it will be accepting payments in ETC for all of its Antminer models.
Read more: What Is 'the Merge' and Why Has It Taken So Long?
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Surf Raises $15M to Build AI Model Tailored to Crypto Research
Pantera Capital led the round, with Coinbase Ventures and Digital Currency Group also participating.
What to know:
- Surf raised $15 million to develop "Surf 2.0" and launch an enterprise product aimed at institutional users.
- The firm said it has generated more than 1 million research reports since July and is seeing 50% month-over-month growth.
Top Stories
