Bitcoin Mining Pools
Foundry, Antpool, and Viabtc collectively control over 65% of the global hash rate, reinforcing their dominance through scale, competitive fees, and incentives for miners.
What Are Mining Pools?
Mining pools are collaborative efforts that combine resources from multiple miners to improve the chances of block discovery, distributing rewards based on contributed hash power. As of March 20, 2025, Bitcoin’s total network hash rate is 809.65 EH/s. The leading pools are Foundry USA (246 EH/s), Antpool (173 EH/s), and Viabtc (111 EH/s), representing roughly 65.5% of global hash power, according to mempool.space stats. Their extensive infrastructure appeals to miners seeking stable returns, creating a feedback loop that favors larger pools and puts smaller competitors under pressure.
Foundry USA
Foundry USA is currently the leading pool, accounting for nearly 30% of Bitcoin’s total hash rate. Its appeal lies in its stringent security protocols—such as KYC/AML compliance, address whitelisting, and SOC 2 certifications—along with a zero-fee Full Pay Per Share (FPPS) payout structure that provides consistent revenue for institutional miners. Foundry’s “Donate” initiative allows miners to donate a part of their earnings towards Bitcoin development, fostering goodwill within the community. Being based in the U.S., Foundry claims to offer regulatory predictability, appealing to miners concerned about geopolitical risks. Prominent miners like Bitfarms, Hut 8, and Cipher Mining are reported to mine with Foundry. Among the last 998 blocks, Foundry discovered 310.
Antpool
Antpool, the second-largest pool with 173 EH/s, benefits from its connection to Bitmain Technologies, enhancing its reliability. It utilizes a Pay Per Last N Shares (PPLNS) model with no fees to maximize miner profitability. Through merged mining, Antpool enables participation across multiple blockchains, expanding income potential without additional costs. Its nodes are spread across locations such as the U.S., Germany, and China, which reduces downtime. Along with low payout thresholds, Antpool’s reputation has made it a popular choice. It has reportedly received hashrate contributions from Bitfufu and Bitdeer. Of the last 998 blocks, Antpool mined 209.
Viabtc
Viabtc ranks third with 111 EH/s, focusing on enhancing earnings with its proprietary PPS+ payout system, which is designed to maximize returns for miners. It offers financial tools, including crypto-backed loans and hedging strategies, and real-time Telegram notifications about hashrate changes. Viabtc’s various payout options—including PPS+, PPLNS, and SOLO—cater to different mining preferences. The PPS+ system is unique to Viabtc, promoting profitability as highlighted by an Ultramining Review. The pool also supports merged mining for Litecoin (LTC) and Bitcoin Cash (BCH), providing diversification opportunities. Reportedly, miners are attracted by the user-friendly interface and mobile app. Viabtc managed to capture 136 out of the last 998 blocks.
Why Miners Choose Larger Pools
Miners prefer larger pools, such as Foundry, Antpool, and Viabtc, due to their reliability and steady reward allocation. These pools reduce operational risks with advanced infrastructure, dedicated support, and cost-effective fee structures—challenges that smaller pools face.
However, this centralization raises concerns about Bitcoin’s foundational principles, as concentrated hash power could make the network vulnerable to coordinated attacks. Despite ongoing discussions, there has been no significant movement toward reducing centralization. As of March 2025, the combined 65% hash rate share of these three entities indicates a trend towards increased centralization, unless miners’ priorities or technological advances shift. While this consolidation offers stability, it challenges Bitcoin’s decentralized ideals. If this trend continues, there are concerns that certain transactions could be blocked in the future due to centralization. Economic realities seem to propel this shift, underscoring an ongoing tension between operational efficiency and Bitcoin’s philosophical underpinnings, shaping its evolution.
Comments (0)