> effectively providing 70% of all the processing power on the network.
They are providing the processing power by selling mining chips. They are not operating those mining chips, so they don't control the processing power. They only provide it.
Which means that they can't do a 51% attack, which was what the comment above me was implying.
They can't generate infinite bitcoin units anyway but if they controlled 70% of the mining power they could conceivably execute double spends, although even this would be unlikely.
In any event the post above mine asked a yes or no question and the answer is no.
The article implies that providing mining cpus is much more of a problem than it is since they don't actually control that much mining hash power.
> effectively providing 70% of all the processing power on the network.
They are providing the processing power by selling mining chips. They are not operating those mining chips, so they don't control the processing power. They only provide it.