Bitcoin Mining Pools

Now that you have your Bitcoin mining hardware, your next step is to join the best Bitcoin mining pool.

What is a mining pool?

Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hashing power.

While mining pools are desirable to the average miner as they smooth out rewards and make them more predictable, they unfortunately concentrate power to the mining pool’s owner.

Miners can, however, choose to redirect their hashing power to a different mining pool at anytime.

Get a Bitcoin Wallet and Mining Software

Before you join a mining pool you will also need Bitcoin mining software and a Bitcoin wallet.

The Biggest Mining Pools

The list below details the biggest Bitcoin mining pools. This is based on info from Blockchain’s pool share chart:

1. AntPool

Antpool is a Chinese based mining pool, maintained by BitMain. Antpool mines about 15% of all blocks.

2. DiscusFish/F2Pool

DiscusFish, also known as F2Pool, is based in China. DiscusFish has mined about 12% of all blocks over the past six months.

3. BitFury Pool

BitFury is one of the largest producers of Bitcoin mining hardware and chips.

BitFury currently mines about 12% of all bitcoins in three data centers across Georgia.

It’s a private pool and can’t be joined.

4. BTCC

BTCC is China’s third largest Bitcoin exchange. Its mining pool currently mines about 7% of all blocks.

5. ViaBTC

ViaBTC is a somewhat new mining pool that has been around for about one year.

6. BW Pool

BW, established in 2014, is another mining company based in China. It currently mines about 8% of all blocks.

7. BTC.Top

BTC.top is another new pool. It does not appear to have a website, so it may be a private pool.

8. Slush

Slush was the first mining pool and currently mines about 6% of all blocks.

Slush is probably one of the best and most popular mining pools despite not being one of the largest.

9. Bitclub.Network

Bitclub Network is a large mining pool but appears to be somewhat shady. We recommend staying away from this pool.

10. GBMiners

GBMiners is another somewhat shady pool that should probably not be joined.

Best Bitcoin Mining Pool Comparison

PoolLocationFeesPrivate Pool
BitFuryGeorgia0%Yes
BTCCChina2-3%No
Slush PoolCzech Republic2%No
AntpoolChina1%No
BWChina1%No

The comparison chart above is just a quick reference. The location of a pool does not matter all that much. Most of the pools have servers in every country so even if the mining pool is based in China, you could connect to a server in the US, for example.

Just Want Bitcoins?

If you just want bitcoins, mining is NOT the best way to obtain coins.

Buying bitcoins is the EASIEST and FASTEST way to purchase bitcoins.

Get $10 worth of free bitcoins when you buy $100 or more at Coinbase.

Which Countries Mine the most Bitcoins?

Bitcoin mining tends to gravitate towards countries with cheap electricity.

As Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the vast majority of network hash power.

With many of these companies in the same country, only a number of countries mine and export a significant amount of bitcoins.

China

China mines the most bitcoins and therefore ends up “exporting” the most bitcoins.

Electricity in China is very cheap and has allowed Chinese Bitcoin miners to gain a very large percentage of Bitcoin’s hash power.

It’s rumored that some Chinese power companies point their excess energy towards Bitcoin mining facilities so that no energy goes to waste.

China is home to many of the top Bitcoin mining companies:

F2Pool, AntPool, BTCC, and BW.

It’s estimated that these mining pools own somewhere around 60% of Bitcoins hash power, meaning they mine about 60% of all new bitcoins.

Georgia

Georgia is home to BitFury, one of the largest producers of Bitcoin mining hardware and chips. BitFury currently mines about 15% of all bitcoins.

Sweden

Sweden is home to KnCMiner, a Bitcoin mining company based in Stockholm. KnCMiner currently mines about 7.5% of all bitcoins.

US

The US is home to 21 Inc., a Bitcoin mining company based in California.

21 runs a large amount of miners, but also sells low powered bitcoin miners as part of their 21 Bitcoin computer.

Most of the hash power from the 21 Bitcoin computers is pointed towards 21’s mining pool. 21 Inc. mines about 3% of all bitcoins.

Other Countries

The countries above mine about 80% of all bitcoins.

The rest of the hash power is spread across the rest of the world, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US).

A Note on Pools

While we can see which mining pools are the largest, it’s important to understand that the hash power pointed towards a mining pool isn’t necessarily owned by the mining pool itself.

There are a few cases, like with BitFury and KnCMiner, where the company itself runs the mining operation but doesn’t run a mining pool.

Bitcoin miners can switch mining pools easily by routing their hash power to a different pool, so the market share of pools is constantly changing.

To make the list of top 10 miners, we looked at blocks found over the past 6 months using data from BlockTrail.

The size of mining pools is constantly changing. We will do our best to keep this posted up-to-date.

Note:

If you cloud mine then you don’t need to select a pool; the cloud mining company does this automatically.

Why are Miners Important?

Bitcoin miners are crucial to Bitcoin and its security. Without miners, Bitcoin would be vulnerable and easy to attack.

Get this:

Most Bitcoin users don’t mine.

However, miners are responsible for the creation of all new bitcoins and a fascinating part of the Bitcoin ecosystem.

Mining, once done on the average home computer, is now mostly done in large, specialized warehouses with massive amounts of mining hardware.

These warehouses usually direct their hashing power towards mining pools.




78 Comments


  1. Thanks for a the info, Jordan. Pls send me correct company for mining and pools. Thanks


  2. So many Scams. I have recently started on HashFlare. A platform to buy hash rates and select your mining pools. The pools seem legit however what is your take on the site?


  3. Hi Jordan. Please I want invest in antpool, already I have account with them but I don’t know how to buy a contract. Please I need help with that.


  4. Problems at P2Pool.org: The site appears to be paying generously, until: after a few days the site crashes, is down for a few hours, when it comes back online your accumulated rewards are cut in half, over a week this happened 3 times, each time cutting your rewards in half. Eventually there’s not enough left to justify staying as their blocks are being found every couple weeks, whereas they used to find one every few days a while back. I lost a week’s worth of income on this site following somebody’s advice.


  5. Hello you think about cryptominingfarm.com?
    Serious and Reliable or Cheating?


  6. I was thinking of going with TCC (trade coin club) is that company a scam or legit?


  7. hi jordan
    i want to invest in genuine site ….please suggest me best 5 sites.


  8. Hi,

    What about Skilldragon mining? I see they have limited times on their mining contracts. What is you opinion on that?


  9. Thank you for an interesting post
    What do u mean by bitclub network is “somewhat shady”?


  10. Hey jordn,
    What about vixice?


  11. I have been mining with minergate.com other crypto currencies…is it a scam or not?


  12. Educative and interesting post. Just learned several points about bitcoin mining. Thanks


  13. Is splititmining.com a genuine BTC Mining Pool?


  14. Hi, could you please tell me what you would consider the top 3 sites to mine, I have several Antminer S-9’s and don’t mind waiting for payouts as long as I know the site is legit. I accidently mined on P2Pool.com thinking I was on P2Pool.org and decided I was being scammed, was I right? Thanks for your help, ML


    1. p2pool.org is fine. If you don’t want to use that, I’d go with Slush Pool.


  15. Jordan,

    this is the website of dragonmine01
    dragonminingsystems.com

    Thanks for having a look at it.


    1. I can’t see much there. When it’s up and running let me know and I’ll take another look. But like most “pools” of this type it seems scammy.


  16. Hi Jordan,

    I like what you do. I`m start to mine on minegate.com and after you article I’m pretty sure that this site is a scam.

    I just wanted to make a proposal for you: Maybe you should also make a article with expample for scams sites. Just a short list. Maybe it will the people help to see how scams site are build.

    Regards,
    Kev


    1. Kev, thanks for the tip. Yes I believe that is a scam. I am working on a new post that can help weed out scams


  17. What is a good Mining Company where we could get bitcoin in large quantities from. Im not looking for a trading company, just someone that can make it easy. I tell them how much I want and they tell me the price, i send the money, and they send the bitcoin.


  18. Hi Jordan,

    Do you think Dragonmine01 is a scam? They are in slushpool and bitcoin.com


  19. Hi Jordan,

    Have you seen the bitcoingrowthfund? Do you think its a scam?

    Thanks!


    1. If you have ZCASH mining hardware, and mine it, there is nothing wrong with that.


  20. hi i want to know about gladiacoin.com it says it will double my bitcoin within 90 days n regularly pay me 2.2% what would you say about it? or suggest me other what i can trust


  21. Hi Jordan,
    Im out of this conversation but what is your suggestion for Slush Pool they are good or SCAM .
    Thanks


  22. As per you which company is not a scam, so we can invest only in that company.


  23. I want to know whether Hashflare is scam or not?


  24. Hi EOBOOT IS SCAM?


  25. hi jordan
    what u think about “ONECOIN”???? what is it?? Scams orrr???


  26. Hey! What about Coinfactory.io? Can you suggest me some bitcoin stock trading sites?


  27. Hey! What about Coinfactory.io? I have invested 0.0001 BTC and they are paying me back from last 25 days. Shall I invest big? And can you suggest me some bitcoin trading sites like stock trading?


    1. Probably a scam. Be careful! Any site that guarantees profit is likely a scam.


  28. it is a great information.
    by using my pc which pool i mine. & which mining software i shuold install in my pc.


  29. Hi Jordan,
    I have contract with Poolhash Technologies Limited, are that company is scam???Thank you.


  30. Pls send me at least 20 genuine bitcoin mining platform you know.


  31. very good information


  32. it looks like all of them are scammer….. so better don’t believed this coin is a good way for extra income….


    1. Not really…Slush, BTCC and most of the pools are fine to use. Just not the two I noted.


  33. Hi Jordan,
    My friend made a contract with GBMiners through his childhood friend. His friend made investment in mining of 16BTC 8 months ago and today he have made around 30BTC and he gets 5% for every new miner. He showed me his payouts too. In such a way they are making a chain. What are your opinions?


  34. Hey Jordan,

    What about Trade Coin Club, one of the first top 10 auto trading BitCoin and yield revenues, a fair tiny daily percentage based upon the investment you make.

    Would you recommend such?

    John


  35. Want to know if startminer.com is a scam


    1. I’d say yes just based on the fact they have random Bitcoin company logos at the bottom that are in no way connected to them.


  36. This piece is reasonably blunt, I have scoured the Internet for a legitimate cryptocurrency investment platform but at each turn I hit a scam. The bitter truth is that there is no easy way to make big money gains in the cryptosphere. But for those who are patient, buy these coins and tuck them safely in wallets. You will thank me two years later.


  37. I am writing to Ckminer and wanted to know itself is a scam or a real company?


  38. Hi
    Which of the bitcoin mining company can be trusted to be genuine for investment b/cos most of the ones I invested scammed me.


    1. Mining pools are not investment companies, they simply help get you paid out more frequently.


  39. Hi,
    What about genesis mining?
    Scam or…?


    1. It’s not a scam in that they will actually provide you with the hash rate you buy. That does NOT mean you are going to profit from the contract.


  40. Hi
    Recently i invested 3 btc in gaincoin co on terms they will give 10% each month which is earning from server they had given me on lease. Is this safe investment.plz guide me.


    1. Hi Amit, I would say that company is a scam. Usually, companies that promise a return (in exchange for control of your money) are scams.


  41. Hi,
    Thanks for the post, can you suggest me best and safe mining service where I can invest my existing coins?


    1. Hi Ankur,

      There is no such thing as a mining service where you can invest your existing coins. Always store your wallets in a wallet you control. Any service claiming to give you interest earnings is a scam, no doubt.

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