5 Dominant Mining Pools Discovered Over 84% of Bitcoin Blocks in 2023
Five dominant mining pools discovered over 84% of Bitcoin blocks in 2023. The industry data reveals the mining of 54,002 bitcoin blocks between December 30, 2022, and December 30, 2023. Foundry USA tops the charts by mining 16,492 blocks in the past 12 months. Miners navigated through a total of 27 difficulty adjustments and successfully managed to push the hashrate to an unprecedented all-time peak.
5 Pools Collectively Discovered 45,707 Block Rewards
It has been a successful year for Bitcoin miners to uncover over 54,000 Bitcoin (BTC) blocks, each comprising 6.25 freshly minted Bitcoins, along with the fees tied to every discovered block. The leading mining pools for the year are Foundry, Antpool, F2pool, Viabtc, and Binance Pool, respectively, according to archived data collected from btc.com. These five entities collectively discovered a total of 45,707 block rewards during the year.
The five dominant mining pools in 2023 discovered over 84% of all BTC blocks. Other significant contributors are Luxor, with 1,311 blocks (2.43%), btc.com, with 978 blocks (1.81%), and Braiins Pool, with 894 blocks (1.66%). There were 147 empty blocks in the network during the year, amounting to 0.27% of the total. Antpool, F2pool, and Viabtc, with 65, 20, and 21, respectively, are the sources of the empty blocks.
The enhanced Bitcoin miners’ capabilities were revealed significantly during the year, with the hashrate peaking at a record 545 EH/s on December 24, 2023. This figure represents substantial growth from January 2016, when Bitcoin’s hashrate first hit one quintillion hashes per second (H/s). The network’s total hashpower at the end of the year of 529 quintillion underscores an exponential evolution of total hashrate.
Firms including Bitmain, Canaan, Microbt, and Auradine have launched advanced-generation miners in 2023, which are likely to further enhance the hashrate. These state-of-the-art devices are capable of delivering more than 375 terahash per second (TH/s) while demonstrating superior efficiency with ratings below 20 joules per terahash (J/T). Last year in December, Foundry had 71.84 EH/s, which is presently 147 EH/s. Antpool had 49.95 EH/s, which is presently 139 EH/s, while F2pool had 31.99 EH/s and is now 62.27 EH/s.
Upcoming Halving Event in April 2024
The year 2023 is known for immense growth and innovation in the Bitcoin mining industry. With the halving event approaching in April 2024, the block rewards will decline from 6.25 to 3.125 BTC. The sector braces for momentous change on the horizon and the challenges for these dominant mining pools.
What is your take on the mining pool industry in 2023? Please share your thoughts and opinions about this subject in the comments section below.
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