Importance of Mining Bitcoin in a Pool
A blockchain requires a large amount of processing power to function. Because the blockchain is decentralized, each individual user—known as a miner—provides this power. For every block that is successfully mined, miners get rewarded. A block’s likelihood cannot be ascertained by miners on an individual basis. Strong equipment is not a guarantee of successful cryptocurrency mining, even for miners. As a result, miners build mining pools by grouping together.
The hash power of all the miners participating in a pool gets combined to increase the chances of miners to receive rewards and attain their mining with ease. This is one of the main keys to increasing the overall mining operation’s profitability and also providing the miners with equal distribution of rewards.
Top Bitcoin Mining Pools of 2024
Here is a comprehensive list of Bitcoin mining pools that miners can join in 2024, to receive mega profits:
1. Foundry USA
Foundry specialized in offering bitcoin miners in North America equipment, funds, institutional knowledge, and intelligence. Additionally, they offer finance for mining equipment in addition to FoundryX, a marketplace for the purchase and sale of mining equipment. To link miners, they have established a reliable secondary market in the US. Additionally, the company has a mining pool named Foundry USA Pool. It seeks to raise North America’s mining ecosystem share.
- Pool Fee: 2% fee for PPLNS and 4% for PPS
- BTC Pool Hashrate: 231.5 EH/s
- Reward Distribution Method: FPPS
- Supported Hardware: ASIC
2. F2Pool
DiscusFish, another name for F2Pool, is one of the biggest Bitcoin mining pools for cryptocurrencies worldwide. Based in China, it was established in 2013. Miners may also mine cryptocurrencies like Ethereum (ETH), Litecoin (LTC), and others by pooling their computing power with F2Pool. F2Pool functions as a mining pool, pooling the processing resources of several miners to improve their odds of resolving challenging mathematical puzzles that are necessary for mining cryptocurrency. The reward for successfully mining a block is divided among the participating miners according to how much each one contributed to the hash rate of the pool. F2Pool’s enormous mining capacity and early embrace of new coins helped it earn notoriety in the cryptocurrency mining world.
- Pool Fee: 2.5%
- BTC Pool Hashrate: 25.81 EH/s
- Reward Distribution Method: PPS+
- Supported Hardware: ASIC, GPU
3. Antpool
Ten cryptocurrencies are supported by Antpool, one of the biggest mining pools in the world, which pays miners every day for their hash power contributions. By 2020, Antpool will account for more than 12% of the hash power on the bitcoin network. The mining pool was established in 2014 and is run by Bitmain, a producer of mining hardware. Ten cryptocurrencies are supported by Antpool, an open access mining pool, including Bitcoin, Bitcoin Cash, Ethereum (ETH), and LTC (Litecoin).
- Pool Fee: 0% for PPLNS, 4% for PPS+
- BTC Pool Hashrate: 30.5 EH/s
- Reward Distribution Method: PPLNS, PPS+
- Supported Hardware: ASIC
4.ViaBTC
It is among the biggest cryptocurrency mining pools. A large list of mineable coins is supported. ViaBTC has put advanced management tools into place. It permits hedging and cryptocurrency loans. ViaBTC offers options to increase transaction speed.
- Pool Fee: 2% for PPLNS, 4% for PPS
- BTC Pool Hashrate: 20.32 EH/s
- Reward Distribution Method: PPLNS, PPS
- Supported Hardware: ASIC
5. Binance
A platform called Binance Pool allows users to profit from mining cryptocurrencies. It provides comparatively simple access to mining pools and the ability to invest profits from mining. To connect to different mining equipment, you can create multiple mining accounts. The site offers a wealth of statistical data regarding mining profits, hash rates, dates of mining, and other details. It is a service that uses the Proof-of-Work algorithm to generate revenue from mining cryptocurrencies.
- Pool Fee: 2.50%
- BTC Pool Hashrate: 23.86 EH/s
- Reward Distribution Method: FPPS, PPS+, and PPS
- Supported Hardware: ASIC, GPU
6. BTC.com
BTC.com is a renowned mining pool company that has been serving the mining industry since 2015. The company is highly specialized in creating industry’s infrastructure that conforms to the new established standards of the Bitcoin mining industry. Its accessible blockchain browser allows the miners to view real-time information about the crypto and chain. It is run by the renowned mining hardware company Bitmain and supports several other cryptocurrencies such as Litecoin, Bitcoin Cash, Ethereum, Ethereum Classic and more.
- Pool Fee: 1.38%
- BTC Pool Hashrate: 161.44 EH/s
- Reward Distribution Method: Advanced FPPS
- Supported Hardware: GPU
7. Poolin
Among the list of trustworthy Bitcoin mining pools is Poolin, which supports a variety of cryptocurrencies in addition to Bitcoin, including BCH, Ethereum, Litecoin, ZCash, and more. Poolin is still gaining popularity in the market because of its unrestricted mining services.
- Pool Fee: 2.50%
- BTC Pool Hashrate: FPPS
- Reward Distribution Method: 23.59 EH/s
- Supported Hardware: ASIC
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