Two mining pools control 51% of Bitcoin hashrate

Foundry USA and AntPool have reached a combined 51% control of Bitcoin hashrate, sparking concerns of a potential 51% attack and risks of network centralization.

Foundry USA and AntPool dominance sparks debate

The crypto market is once again discussing the threat of centralization. Foundry USA and AntPool have taken control of more than half of the Bitcoin hashrate, raising fears of a possible 51% attack. WhaleWire CEO Jacob King noted that the last similar situation occurred in 2015, when GHash.io faced backlash and voluntarily reduced its share.

Back then, the pool suffered DDoS attacks and eventually shut down, while Bitcoin’s price dropped 87%. King believes that the risks of centralization are being underestimated by Bitcoin maximalists.

Weak fundamentals and warning signs

According to King, the market currently relies on fragile factors:

• stablecoin manipulation;
• retail investor FOMO;
• misleading narratives from Bitcoin maximalists.

He also pointed out that on August 18, Foundry USA mined eight consecutive blocks, with many transactions paying less than 1 sat/vB in fees.

Still, many in the community doubt the feasibility of such an attack. Commentators highlight that Foundry USA operates in the U.S. while AntPool is based in China, making coordination highly unlikely.

Community response: real risk or exaggeration?

Developers stress that mining pools consist of independent participants. A successful attack would require 100% of miners within a pool to cooperate, which is practically impossible. Moreover, miners can quickly leave a pool if suspicious actions are detected.

Experts argue that a 51% attack would cause severe reputational damage and could trigger a chain split, making it economically irrational. While concerns remain, the industry continues to monitor the dominance of these pools and its impact on the future of Bitcoin mining.