The list below details the biggest Bitcoin mining pools: ➤ MORE: Is bitcoin mining profitable in 2022? Current Mining Pools Our guide on the best bitcoin wallets will help you get a wallet. This is because all Bitcoin mining pools will ask you for a Bitcoin address that will be used to send your mining rewards and payouts. Therefore, one can no longer look at where a pool is headquartered and assume that the hashing power it represents is also Chinese-based. Most of that hashing power has moved to the US and Canada. That is because China banned Bitcoin mining and shutdown about 90% of the mining ops in the region. While these numbers also represented somewhat accurate hashing rates from each country, they no longer do as of June 2021. Many pools are headquartered in China and so the number for China is quite high. Keep in mind these numbers only represent the amount of hashing power each pool represents. Broken down by the percent of hash power controlled by a pool, and the location of that pool’s company, we estimate that Chinese pools control ~65% of the network hash rate: Many only have Chinese websites and support. ➤ MORE: Bitcoin mining profit calculator Pool Concentration in Chinaīefore we get into the best mining pools to join, it’s important to note that most mining pools are in China. Miners can, however, choose to redirect their hashing power to a different mining pool at anytime.įinding a good mining pool is important because it’s going to save you money. While mining pools are desirable to the average miner as they smooth out rewards and make them more predictable, they unfortunately concentrate power to the mining pool’s owner. Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power. Now that you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool or buy bitcoin.
Learn more about our editorial guidelines Updated September 14, 2022
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