- Concentration of Hashrate
- Growth of Foundry and Antpool
- Historical Context
Over the past three days, Foundry USA and Antpool have dominated the Bitcoin (BTC) mining industry, collectively controlling 56.7% of the network’s total hashrate. This marks a significant development as two mining pools captured more than half of all blocks mined during this period.
Concentration of Hashrate
This concentration of power marks a significant development, as two mining pools captured more than half of all blocks mined during this period. The total Bitcoin network hashrate is currently around 651 EH/s. Over the past three days, Foundry has contributed around 215.79 EH/s and has maintained an average of 199.02 EH/s over the past week. The second-largest pool, Antpool, has recorded 153.55 EH/s over the past three days, while its seven-day average is 162.55 EH/s.
Growth of Foundry and Antpool
Foundry’s rapid growth is particularly notable. Its hashrate was 140.26 EH/s at the beginning of the year, making its current increase of over 75 EH/s a remarkable feat. Foundry is owned by DCG, the world’s largest digital asset firm. Archived data as of August 24, 2024, shows that both Foundry and Antpool have benefited from the recent increase in transaction fees, with blocks filled with unusually high fees increasing their profitability. While Foundry shows rapid growth, Antpool remains steady: its initial hashrate was 147.40 EH/s at the start of the year.
Historical Context
Historically, Antpool leads the block mining industry with 89,726 blocks mined, according to btc.com data. F2pool follows with 86,915 blocks, while Foundry, despite its recent growth, still lags behind with 41,987 blocks mined. However, given its rapid rise, Foundry is quickly climbing the rankings.
The dominance of Foundry USA and Antpool in Bitcoin mining highlights their significant influence on the network. Continuing their growth and impact on the overall hashrate will be an important trend to watch in the future.
