TOP mining pools
In 2020, over 80% of all Bitcoin hash rate was concentrated in China; in 2021, the Chinese authorities began to fight this actively, and many miners left this jurisdiction. However, as of 2022, statistics show everything is changing again - the Chinese continue to mine.
This type of mining is often called "cloud mining." As of 2023, there are thousands of pools on the Internet. However, there are few large and reliable pools for mining (no more than 10).
Mining cryptocurrency blocks is unstable when calculating for a short period. This effect is significantly enhanced when the pool is "weak." Therefore, there may be periods when the pool is "rushing" and block after block is mined, and there may be periods when nothing is mined.
How is payment calculated in mining pools?
Thousands of users can participate in one pool. The received reward must be somehow divided between the participants. Several options for paying pool participants were invented.
- PPS (Pay Per Share) - a fixed fee for invested power. The pool begins to pay in advance without having mined a block. Due to this, he bears risks. Therefore, pools with this type of reward have the highest commissions (up to 7%). But the user gets money from his investments.
- PROP (Proportional) - Payment to miners depends on the power they invested (proportionally). However, there is a big drawback. It is only sometimes possible to receive a reward. For example, not a single block will be mined a whole day. And the next day, there were two whole blocks. As a result, if someone mined only on the first day, their income will be 0. And those who joined only on the second day will receive double income.
- PPLNS (Pay Per Last N Shares) - similar to the PROP option, but with an improved version of calculating shares. The main point of the idea is to smooth out the unfair ratio in the case of good and bad days for mining.
Top 5 powerful mining pools
Let's look at the largest and the best pool for mining in 2023.
F2Pool (Discus Fish) is a Chinese service, operating since 2013. The company is located in Beijing but also works in the USA, Canada, Singapore, and other countries. The platform operates in Chinese, English, and Spanish, supports over 40 cryptocurrencies, and serves miners in more than 100 countries.
AntPool is also a "Chinese" product with fairly high power, which appeared on the market in 2014. There is a choice of English interface and an option in Chinese. It uses different payment systems, a large number of digital assets are available, as well as smart mining.
Poolin is a global online platform that supports mining many digital assets (BTC, ZEC, LTC, ETH, DASH, BCH, and others).
Huobi. pool is a Chinese project that appeared on the market in 2017 and belongs to the popular cryptocurrency exchange Huobi. The platform can operate in both Chinese and English. It offers low fees and the ability to work with more than 40 digital assets.
BTC.com is one of the largest mining pools, the address of which has been known since 2013. Its hash rate is about 11.5% of the total network computing power. It is located in China and is owned by Bitmain. The company is recognized as one of the most reliable miners.
These five largest pools for mining together account for more than 55% of the network's power, and the remaining ones account for at most 7%, so ranking them is pointless. However, many of them are interesting in their characteristics, and we will look at some of them.
The most profitable mining pools
The most beneficial are pool for mining that have an increased hash rate. The hash rate of a pool for mining digital assets suggests the computing power employed by all service users. A higher hash rate indicates the pool has a better chance of finding a block and receiving a reward.