Mining Bitcoin (BTC) can be a lucrative business. You can decide to solo mine with your bitcoin ASIC miners, meaning you mine completely on your own. But for smaller miners, it may be more interesting to mine in a bitcoin mining pool. In this article, we will have a look at the performances of the biggest mining pools in the world to get a clearer picture of the current state of the bitcoin mining market!
Bitcoin mining pool, can you swim in it?
But first, for the readers who are beginners or don’t know what a mining pool is, here is a short introduction. As mentioned in the beginning you can mine bitcoin on your own. You can also pool your resources together with other miners in the world. When you mine bitcoin this way, you and your miner friends act like one big miner.
This makes it more likely that your pool actually manages to mine bitcoin. The bitcoins you mine together are then distributed among all the pool participants. The advantage of mining in a pool is that you can generate a steady income, no matter how small your mining operation is. In this blog article, you can read some tips for how to choose the best mining pool. You will read about pool compatibility, stability, transparency, and fee structures.
Top-performing bitcoin mining pools this week
De top 5 mining pools on the market have not changed much in the previous months. F2Pool is, at the time of writing, the biggest pool. It generates a little over 16% of the total Bitcoin hash rate. Poolin does stay close behind and generates almost 13,5% of the total hash rate.
Over the past week, F2Pool mined 165 blocks, meaning it received over 1.000 bitcoins as a reward. On top of that, the miners of F2Pool will also receive transaction fees which averaged at about 0,7 BTC per block. As mentioned in the introduction, the F2Pool miners will share these rewards together! The top 5 mining pools of the past week looks as follows:
|Pool||Hashrate share||Hashrate||Blocks mined|
|Bitcoin total||100%||156.03 EH/s||1.022|
|Binance Pool||11.5%||18 EH/s||118|
More information about mining pools
Want to know more about the biggest mining pools? In this blog article, you will find some more detailed information about three of the biggest mining pools on the market. We look at BTC.com, F2Pool, and Poolin. It is important to research the mining pool you’re planning to join. So this might be a great starting point for beginners!