Topic: Bitcoin Mining Pool distribution monthly reports - page 2. (Read 2675 times)

Crypto miners around the world used as much electricity as all of Australia in 2023, the EIA found.
In the US alone, crypto mining takes up 0.6% to 2.3% of the country's electricity demand — as much as states like Utah or West Virginia.
The EIA now wants some crypto miners in the US to report details about their energy use.
https://markets.businessinsider.com/news/currencies/bitcoin-crypto-mining-electricity-energy-us-government-cryptocurrency-australia-eia-2024-2

Let say all the individual miners have been KYC verified in both pools. Why is it a worry that both pools hold over 50% of the network hash rate?
Like, are the owners of the mining pool going to telephone each individual miner to co-ordinate the 51% attack? Help me understand this danger.

In my opinion, Decentralization of bitcoin mining = individual miners, not mining pools. We could have 100 different miners from 100 different countries in one mining pool, having a total hashrate of 40%.

Month of February is here and it is time for another monthly overview of bitcoin mining pools.
I heard some people saying how it is no important that two pools have more than 50% of hashrate, but I dont know if they know that all miners in those pools have to be KYC verified!

AntPool had a big jump in hashrate since last month and now they have the same percentage as Foundry USA, each of them have 28.34 hashrate, that is over 56% in this two pools.
F2Pool is holding third place with significantly less hashrate of 12.83%, followed by ViaBTC pool will 12.3% of hashrate in 4th place.
All other pools have decreased a lot and most surprising in Binance that now has only 3.74% of hashrate.
Secpool and lucor are below with around 3% and everyone else is below that.
Important change is that top four pools have over 80% of hashrate now!


https://mempool.space/graphs/mining/pools

Listed on the Abu Dhabi Securities Exchange (ADX: PHX), Phoenix Group announced its latest agreement with Bitmain. The company stated that its $187 million investment was in Antminer-brand bitcoin mining rigs from the ASIC manufacturer. However, Phoenix did not reveal the total hashrate capacity obtained or the precise model types of the rigs purchased. The deal follows Phoenix’s recent procurement with another significant acquisition, this time from Bitmain’s rival, Microbt.
https://news.bitcoin.com/uae-based-phoenix-group-bolsters-mining-capabilities-with-187m-bitmain-deal-amidst-global-asic-race/

Welcome to year 2024!

This is going to be the last 2023 report for state of bitcoin mining pools.
FoundryUSA remains biggest pool with over 32% hashrate, that is big increase from last month, and they are followed by AntPool with 24.66% hashrate.
This two pools combined currently have almost 57% of total bitcoin hashrate!
VIaBTC is in third place with only 11.64% hashrate and in 4th place F2FPool have almost 9% hashrate.
Binance have 7.53% hahsrate this month that is small increase from last month, and after them MARA pool showed significant increase with 5.48% hahsrate.
Rest of the pools are much smalle in size and trend of centralizations continues.
I didnt talk about this so far but I heard that some of the biggest mining pools are asking miners to perform KYC verification and that is not good.


https://mempool.space/graphs/mining/pools

I cant believe that it is already December, the last month of the calendar year, but we are here to make another report.
Situation didnt change much from last month, and Foundry USA are sharing the first place with Antpool, both of them have around 27% hashrate.
ViaBTC is back in third place with almost 13% hashrate, and they are followed by F2Pool with 9.29% hashrate, they just switched places from last month.
Luxor pool made a good jump and they took over 4th place from Binance that have the same share of 6.43% hashrate.
All other pools are much smaller in size, but it is good they exist.
All miner together have 477.05 EH/s total hashrate.


https://mempool.space/graphs/mining/pools

4 large pools have 80% hashrate, 5 large pools have 87.7% hashrate
According to the news, Russia ranks 2nd in mining, but where do Russian miners mine?
They probably choose Chinese mining pools
If a law on mining appears in Russia, then perhaps we will see changes in this schedule.

November is here and it is time to make another overview of bitcoin mining pools.
Surprising jump in AntPool made it biggest pool right now with almost 28% of hashrate, and after long time we can see FoundryUSA falling to second place with 27.27% hashrate.
Both of this pools combined have more than 55% of hashrate right now and that is small increase from last month.
F2Pool is now in third position with increase from last month when they were on fourth position and now they have over 13% of hashrate.
ViaBTC has fallen to 4th place with 11.27% that is small drop from last month, and they are followed by Binance pool with almost 8% hashrate, that is significant jump from last month.
Rest of the mining pools are much smaller in size and there is a trend of more reduction in their size.


https://mempool.space/graphs/mining/pools

Evaluating BTC’s Q3 mining report as it sheds light on these patterns
Bitcoin’s hashrate stood at 17% in January; it later grew to 27% in October.
On another note, several public Bitcoin miners are aggressively expanding to adapt to the Bitcoin halving that takes place next year.
The recent bull run in the market has put the spotlight back on Bitcoin BTC. We decided to look at its relationship vis-à-vis the performance of the crypto mining sector.
https://ambcrypto.com/evaluating-btcs-q3-mining-report-as-it-sheds-light-on-these-patterns/

Two big pools are still cruising bitcoin mining water and they currently more than 54% total hashrate.
FoundryUSA is holding number one place with over31% hashrate, and AntPool remained on second place with 23% of hashrate.
ViaBTC jumped to third place with almost 13% hashrate that is big improvement from last month, and after them we can see F2Poll with almost 10% hashrate.
We can see a big drop in rest of the pools with Mara pool leading the bunch with 3.85% hashrate.
Biggest surprise for me is big drop in Binance pool that only has 3.21% hashrate, and we can see last month they had more than 7% hashrate.
Maybe Binance exchange regulation situation is affecting their pool, but this can be only temporary so I am waiting to see situation in next month.


https://mempool.space/graphs/mining/pools

September is here and we are again checking current state of bitcoin mining pools.
Situation is not much different from last month, FoundryUSA is still biggest pool with 3'.67% hashrate followed by AntPool in second place with 22% hashrate.
F2Pool is third biggest pool with 14% hashrate, and Binance is taking fourth place with 7.33% hashate.
ViaBTC hgained few more percent and they have 6.667% hashrate right after Binance pool.
EMCDPool is new pool that showed up and they already have over 3% hashrate, maybe they will have more hashrate in future.
There are no other big changes and hashrate is still on the rise with total of 456.7 EH/s.


https://mempool.space/graphs/mining/pools

Month of August is here and it is time for another overview of bitcoin mining pools.
Domination of two pools continue to grow with FoundryUSA taking the first place with over 31% of hashrate, followed by AntPool that has over 24% hashrate, that is over 55% hashrate for this two pools.
F2Pool is now on third place with over 14% of hashrate that is nice jump from last month, and after them comes Binance pool with significantly less hashrate around 8% hashrate.
Next pool on the list is ViaBTC with 4% hashrate and all other pools are much smaller in size.
For more details you can check mempool website.


https://mempool.space/graphs/mining/pools

I dont know anything, and I think Bitcoin price dipped a little because of my 'fud' but you stopped it going down further  
Good thing we have such a smart people like you in forum who know everything.
I think you are one of the smartest people who know everything about bitcoin mining.

Thank you.
Go with peace, try to learn other people and spread more wisdom around the world.

Yes, that is exactly what you are trying to do, not sure if you do it intentionally or due to lack of understanding of how btc mining work, i saw a few folks trying to "correct" you, Kano went as far as saying your whole analysis is pointless, I tried to be nice and tell you the same thing in a different way, but you keep on insisting on thinking that you know better than all of us here who have been mining btc long before you heard about this whole mess.

Clearly you have no deep understanding regarding the mining subject, common sense would be learning from people who do, but you seem so salty and do not want to listen to the points we lay before you.

I am not going to engage in this topic again, I said what I have to say, btc mining is not centralized and there is nothing to worry about, let the readers decide who makes more sense.

You need to think outside the box.

So I am now creating stupid fud, and that makes you what? Smart guy who knows everything?  
We are so happy to have genius in this forum that takes everything he writes from his own head, unlike other people who only copy things  
Thank you for your service and for mining bitcoin.

I didnt take anything personal, and I didnt get upset.
If anyone needs explanation about bitcoin mining I will refer them to you.

Alas, you have to learn to read things in thier context, i said


Also, "everyone who is following pools' share hashrate" do it with a software that reads the blockchain and put it into a chart/table, that is fine, what is not, is people copying the already available charts and thinking they have spotted something that nobody else know about, and creating some stupid fud on how 51% attack is going to happen because a few pools have 51% of the total hashrate, those same people have no clue that this is no news and it has been the case for a decade.




This is not how mining works, and I am not going to explain why because then you will just get upset and take it personal again.

Than you should contact everyone who is following state of mining pools and tell them they are wasting time, because you know better and they are all irrelevant 
I could say the similar thing for every other thing in the world that follow statistics, we don't really need it and we don't need to care about 51% attack.
This is not accurate science, but I could argue that one or two companies like BlackRock own everything in the world, and there is not real competition anywhere.

It is not so hard to use VPN or Tor to hide real location, so you cant be sure what country is really mining.

Before the China ban it was Bitmain with their pools (Antpool, BTC.com and Viabtc) arguably even Poolin which was founded by an ex-Bitmain employee before the 2020 lawsuit, and then, on the other side, you had F2pool, those pools combined always had well over 50% of the total hashrate, and don't be fooled by all the names, essentially, 2-4 Chinese men sitting in closed room had the final say on what to do with all that hashrate.


Fast forward, China banned mining, and U.S players started to get into the business, creating their own mining pools, and now it's no more 2-3 Chinese men, it's 1-2 Chinese and 1-2 Americas, still the same number of entities who control well over 50% of the total hashrate, and since BTC doesn't care about those folk's nationality or names, nothing has changed in terms of hashrate distribution.

 
I have been professionally mining BTC long before this topic took place, and I have been following hashrate distribution years before Foundry USA pool came into existence and the fact that 2-3 entities owning over 50% of the hashrate have been the case since at least 2016, it's a lot more than just looking at a pie chart and thinking you solved the puzzle, you need to understand how are all these pools are connected, then use that knowledge to compare hashrate distribution for the past decade, and you will come to the same conclusion.

Furthermore, pool distribution is pretty irrelevant compared to gear ownership and the physical location of that hash power, at least 80% of the hashrate comes from a single manufacturer, that's more to worry about than some random pool distribution which can change drastically over the course of a few hours, the physical location of the gears and the law which they operate under is also a serious matter.

I'd rather see 3 large pools each owning 33% but hashrate divided between 50 different countries where no country has over 10% of it, rather than seeing 100 pools, each with 1% hashrate but 70% of that hashrate located in the same countries with the same laws and regulation, even worse, that majority of that 70% is owned by a single entity.

I didn't know about this connection between this pools, but this is interesting observation that adds more on centralization of mining.
Bitmain is one of the biggest manufacturing of asic miners and it is expected from them to do all kinds of deals with different mining pools.

If you follow this topic from start you will see that situation changed a lot, and having more than 51% of hashrate was always problematic.

Might as well add the 10% of Viabtc to Antpool and that would give you over 60% controlled by two entities (Foundry and Bitmian), while Haipo Yang tries his best to deny the fact his pool isn't indirectly owned by Bitmain, his attempts just keep failing, judging by the who is the largest investor in Viabtc, and the team that founded Viabtc, you can clearly see that it's just another branch for Bitmain.

Although, as I mentioned before, this isn't new, and there is nothing to worry about, 2-3 entities owning over 50% of the hashrate has been the norm for many years, and will always be the case.