BIP-110 Breakaway Chain Collapses as Roughnecks Quits Mining

Roughnecks, a mining group behind the two blocks on Bitcoin's BIP-110 minority chain, has stopped mining under its name. The decision was made after a team meeting at 3:40 a.m. UTC on August 9.

The move comes as Ocean's displayed hashrate collapsed from around 36 EH/s to 1.25 EH/s, a decline of approximately 96.5%. BIP-110 miners are now facing a punishing feedback loop, with slower block production and difficulty adjustments.

Roughnecks described the decision as an 'escalation to the next step,' rather than a defeat for BIP-110. They also advised other miners to halt operations until further notice.