Now that you have your Bitcoin mining hardware, your next step is to join the best Bitcoin mining pool.
What is a mining pool?
Mining pools are groups of cooperating miners who agree to share block prizes ter proportion to their contributed mining hashing power.
While mining pools are desirable to the average miner spil they slick out prizes and make them more predictable, they unluckily concentrate power to the mining pool’s holder.
Miners can, however, choose to redirect their hashing power to a different mining pool at anytime.
Get a Bitcoin Wallet and Mining Software
Before you join a mining pool you will also need Bitcoin mining software and a Bitcoin wallet.
The Largest Mining Pools
The list below details the thickest Bitcoin mining pools. This is based on informatie from Blockchain’s pool share chart:
Antpool is a Chinese based mining pool, maintained by BitMain. Antpool mines about 15% of all blocks.
DiscusFish, also known spil F2Pool, is based ter China. DiscusFish has mined about 12% of all blocks overheen the past six months.
Three. BitFury Pool
BitFury is one of the largest producers of Bitcoin mining hardware and chips.
BitFury presently mines about 12% of all bitcoins te three gegevens centers across Georgia.
It’s a private pool and can’t be joined.
BTCC is China’s third largest Bitcoin exchange. Its mining pool presently mines about 7% of all blocks.
ViaBTC is a somewhat fresh mining pool that has bot around for about one year.
6. BW Pool
BW, established ter 2014, is another mining company based ter China. It presently mines about 8% of all blocks.
BTC.top is another fresh pool. It does not show up to have a webstek, so it may be a private pool.
Slush wasgoed the very first mining pool and presently mines about 6% of all blocks.
Slush is very likely one of the best and most popular mining pools despite not being one of the largest.
Bitclub Network is a large mining pool but emerges to be somewhat shady. Wij recommend staying away from this pool.
GBMiners is another somewhat shady pool that should very likely not be joined.
Best Bitcoin Mining Pool Comparison
The comparison chart above is just a quick reference. The location of a pool does not matter all that much. Most of the pools have servers te every country so even if the mining pool is based ter China, you could connect to a server ter the US, for example.
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Which Countries Mine the most Bitcoins?
Bitcoin mining tends to gravitate towards countries with cheap tens unit.
Spil Bitcoin mining is somewhat centralized, 10–15 mining companies have claimed the vast majority of network hash power.
With many of thesis companies ter the same country, only a number of countries mine and uitvoer a significant amount of bitcoins.
China mines the most bitcoins and therefore completes up “exporting” the most bitcoins.
Tens unit te China is very cheap and has permitted Chinese Bitcoin miners to build up a very large percentage of Bitcoin’s hash power.
It’s rumored that some Chinese power companies point their excess energy towards Bitcoin mining facilities so that no energy goes to waste.
China is huis to many of the top Bitcoin mining companies:
F2Pool, AntPool, BTCC, and BW.
It’s estimated that thesis mining pools own somewhere around 60% of Bitcoins hash power, meaning they mine about 60% of all fresh bitcoins.
Georgia is huis to BitFury, one of the largest producers of Bitcoin mining hardware and chips. BitFury presently mines about 15% of all bitcoins.
Sweden is huis to KnCMiner, a Bitcoin mining company based ter Stockholm. KnCMiner presently mines about 7.5% of all bitcoins.
The US is huis to 21 Inc., a Bitcoin mining company based ter California.
21 runs a large amount of miners, but also sells low powered bitcoin miners spil part of their 21 Bitcoin rekentuig.
Most of the hash power from the 21 Bitcoin computers is pointed towards 21’s mining pool. 21 Inc. mines about 3% of all bitcoins.
The countries above mine about 80% of all bitcoins.
The surplus of the hash power is spread across the surplus of the world, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US).
A Note on Pools
While wij can see which mining pools are the largest, it’s significant to understand that the hash power pointed towards a mining pool isn’t necessarily wielded by the mining pool itself.
There are a few cases, like with BitFury and KnCMiner, where the company itself runs the mining operation but doesn’t run a mining pool.
Bitcoin miners can switch mining pools lightly by routing their hash power to a different pool, so the market share of pools is permanently switching.
To make the list of top Ten miners, wij looked at blocks found overheen the past 6 months using gegevens from BlockTrail.
The size of mining pools is permanently switching. Wij will do our best to keep this posted up-to-date.
If you cloud mine then you don’t need to select a pool, the cloud mining company does this automatically.
Why are Miners Significant?
Bitcoin miners are crucial to Bitcoin and its security. Without miners, Bitcoin would be vulnerable and effortless to attack.
Most Bitcoin users don’t mine.
However, miners are responsible for the creation of all fresh bitcoins and a fascinating part of the Bitcoin ecosystem.
Mining, once done on the average huis rekentuig, is now mostly done ter large, specialized warehouses with massive amounts of mining hardware.
Thesis warehouses usually rechtstreeks their hashing power towards mining pools.