Cryptocurrency

Foundry

Bitcoin

<div class="finbold">
 <p class="paragraph">The Bitcoin (BTC) mining business is a live ‘winner-takes-all’ race, with mining companies and pools competing against each other for the discovery of the next valid block that guarantees the right to collect the mining reward of 6.25 BTC plus transaction fees. Recent changes in the hashrate spectrum towards AntPool could further impact Bitcoin network decentralization.</p>
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 <p class="paragraph">Notably, the Digital Currency Group (DCG) subsidiary and American <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> pool, Foundry USA, has led this race in the last three years. Foundry dominated the block discovery by 17.78%, for a total of 28,331 Bitcoin blocks mined since October 2020. This data is from <em>mempool.space</em>, collected by Finbold on October 6, 2023.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="478" src="https://cdn.thebittimes.com/images/2023/10/06/5e0cdb060c29567f9dd5035c2e0f2414.webp" alt="Foundry USA 1st, AntPool 2nd: Bitcoin Mining Pool Ranking, 3-year.
" class="wp-image-131544" srcset="https://cdn.thebittimes.com/images/2023/10/06/5e0cdb060c29567f9dd5035c2e0f2414.webp 1024w, https://cdn.thebittimes.com/images/2023/10/06/5e0cdb060c29567f9dd5035c2e0f2414.webp 300w, https://cdn.thebittimes.com/images/2023/10/06/5e0cdb060c29567f9dd5035c2e0f2414.webp 768w, https://cdn.thebittimes.com/images/2023/10/06/5e0cdb060c29567f9dd5035c2e0f2414.webp 1536w, https://cdn.thebittimes.com/images/2023/10/06/5e0cdb060c29567f9dd5035c2e0f2414.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin Pools Ranking, 3-year. Source: <em>mempool.space</em>
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 <p class="paragraph">However, AntPool has suddenly increased its hashrate power in the last few days, surpassing Foundry USA in the block discovery to become the new leading pool in the Bitcoin mining race. AntPool has kept its second place, closely following the leader for all this time, mining 26,436 blocks (16.59%) in three years.</p>
 <p class="paragraph">Interestingly, the new dominating pool is owned by the leading ASIC manufacturer BitMain, both located in China. ASICs are the special machines used to efficiently mine Bitcoin — and the more efficient ASICs connected to the network a miner has, the higher their chances of finding a valid block and collecting the reward.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-mining-pool-antpool-closely-mined-1-out-of-every-3-blocks-in-the-day">Bitcoin mining pool: AntPool closely mined 1 out of every 3 blocks in the day</h2>
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 <p class="paragraph">At the time of publication, the BitMain-owned <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> pool has discovered 46 blocks (30.07%) in the last 24 hours. Excluding the paid transaction fees, this amount has accrued AntPool a total of 287.5 BTC as part of its <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> rewards — which is worth close to $8 million, with BTC trading at around $27,700.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="478" src="https://cdn.thebittimes.com/images/2023/10/06/dd054a12759bd6a1f2692e647b95d9b4.webp" alt="AntPool 30% block discovery. Bitcoin Mining Pool Ranking, 24-hour. Source: mempool.space
" class="wp-image-131545" srcset="https://cdn.thebittimes.com/images/2023/10/06/dd054a12759bd6a1f2692e647b95d9b4.webp 1024w, https://cdn.thebittimes.com/images/2023/10/06/dd054a12759bd6a1f2692e647b95d9b4.webp 300w, https://cdn.thebittimes.com/images/2023/10/06/dd054a12759bd6a1f2692e647b95d9b4.webp 768w, https://cdn.thebittimes.com/images/2023/10/06/dd054a12759bd6a1f2692e647b95d9b4.webp 1536w, https://cdn.thebittimes.com/images/2023/10/06/dd054a12759bd6a1f2692e647b95d9b4.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Bitcoin Pools Ranking, 24-hour. Source: <em>mempool.space</em>
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 <p class="paragraph">Additionally, these most recent results have also impacted the Bitcoin <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> pool industry state in the last three days, as AntPool slightly overcame Foundry USA by a two-block difference. The Chinese <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> pool has mined a total of 121 blocks (27.75%), while Foundry was responsible for 119 blocks (27.29%), according to the 3-day pools ranking.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="478" src="https://cdn.thebittimes.com/images/2023/10/06/3a43c171b7a8660716f94936b8e24f0e.webp" alt="Bitcoin Mining Pool Ranking, 3-day. Source: mempool.space" class="wp-image-131546" srcset="https://cdn.thebittimes.com/images/2023/10/06/3a43c171b7a8660716f94936b8e24f0e.webp 1024w, https://cdn.thebittimes.com/images/2023/10/06/3a43c171b7a8660716f94936b8e24f0e.webp 300w, https://cdn.thebittimes.com/images/2023/10/06/3a43c171b7a8660716f94936b8e24f0e.webp 768w, https://cdn.thebittimes.com/images/2023/10/06/3a43c171b7a8660716f94936b8e24f0e.webp 1536w, https://cdn.thebittimes.com/images/2023/10/06/3a43c171b7a8660716f94936b8e24f0e.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin Pools Ranking, 3-day. Source: <em>mempool.space</em>
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 </figure>
 <p class="paragraph">Therefore, AntPool was able to collect over $2 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> in block subsidy, highly rewarding the Bitcoin miners contributing to its generated Proof-of-Work (PoW), to the loss of their competitors allocating hashrate to other pools.</p>
 <p class="paragraph">Just like Foundry USA, AntPool demands proper identification (KYC) of all Bitcoin miners plugging their machines in this <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> cooperative. In this context, more registered <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> companies could now choose to migrate their hashpower to BitMain’s pool, looking for a higher chance of block discovery.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/antpool-is-now-the-biggest-bitcoin-mining-pool-mining-2-billion-in-3-days-tbt65357.html">https://thebittimes.com/antpool-is-now-the-biggest-bitcoin-mining-pool-mining-2-billion-in-3-days-tbt65357.html</a></p>

AntPool is now the biggest Bitcoin mining pool, mining $2 billion in 3 days

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