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Now you have Bitcoin mining equipment, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are all groups of cooperating miners who agree to discuss block benefits in proportion to their contributed mining hash electricity. While mining pools are desired to the ordinary miner since they smooth out benefits and also make them more predictable, they unfortunately concentrate capability to the mining pools owner.

Pool Concentration in China Before we get into the best mining pools to join, its important to note that most mining pools are in China. Many only have Chinese sites and support. Mining centralization in China is one of Bitcoins biggest problems at the moment. There are about 20 big mining pools.

That can be based on info from Blockchains pool discuss graph: We strongly recommend new miners to join Slush Pool although it not being one of the biggest pools. It was the very first Bitcoin mining pool and remains one of the most dependable and reliable pools, especially for beginners. 1. BTC.com BTC.com is a public mining pool that can be joined.

2. Antpool Antpool is a mining pool based in China and owned by BitMain. Antpool mines about 25% of all cubes. 3. ViaBTC ViaBTC is a new mining pool that has been around for about one year. Its targeted towards Chinese miners. Slush was the first mining pool and currently mines about 3 percent of all blocks.

 

 

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DiscusFish, also known as F2Pool, is based in China. F2Pool has mined about 5-6% of blocks over the past six months. 6. BTC.top BTC.top is a private pool and cannot be joined. 7. Bitclub.Network Bitclub Network is a massive mining pool but appears to be somewhat shady. We recommend staying away from this pool.

BTCC BTCC is a swimming pool and also Chinas third biggest Bitcoin exchange. Its mining pool currently mines roughly 7% of all cubes. 9. Bitfury Bitfury is a private pool that cannot be joined. Bitfury currently mines roughly 2% of all blocks. BW, established in 2014, is another mining company based in China.

 

 

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0%YesBTCCChina2-3percent NoSlush PoolCzech Republic2%NoAntpoolChina1percent NoBWChina1percent No The comparison chart above is just a fast reference. The location of a pool does not matter all that much. Most of the pools have servers in every country so even when the mining pool is based in China, you could connect to a host in the US, for example.

Mining Pools vs Cloud Mining Many men and women read about mining pools and think it is just a group that overlooks free bitcoins. This is not true! Mining pools are for people who have mining equipment to split profits. Many people get mining pools confused with cloud mining. Cloud mining is where you pay a service supplier to miner for you and you get the benefits.

 

 

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Buying bitcoins is the EASIEST and FASTEST way to buy bitcoins. Get $10 worth of free bitcoins when you purchase $100 or more at Coinbase. That Countries Mine the many Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. As Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the great majority of network hash power.

China China mines the very bitcoins and so ends up exporting the most bitcoins. Electricity in China is quite cheap and has allowed Chinese Bitcoin miners to gain an extremely large percentage of Bitcoins hash electricity. Its supposed that some Chinese electricity companies point their excess energy towards Bitcoin mining facilities so that no energy goes to waste.

Its estimated these mining pools own somewhere around 60% of Bitcoins hash power, meaning that they mine about 60% of use this link new bitcoins. Georgia Georgia is home to BitFury, one of the biggest producers of Bitcoin mining equipment and processors. BitFury currently mines about 15 percent of bitcoins. Sweden Sweden is home to KnCMiner, a Bitcoin mining company based in Stockholm.

US The US is home to 21 Inc., a Bitcoin mining company based in California. 21 runs a massive amount of miners, but also sells low powered bitcoin miners as part of the 21 Bitcoin computer. Most of the hash electricity from the 21 Bitcoin computers has been pointed towards 21s mining pool.

 

 

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Mines about 3 percent of bitcoins. Other Countries The countries above mine about 80% of bitcoins. The remaining part of the hash power is spread across the rest of the world, often pointed at smaller mining pools such as Slush (Czech Republic) and Eligius (US). What's a mining poolGet a Bitcoin Wallet and Mining SoftwareThe Biggest Mining PoolsBest Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the most BitcoinsOther CountriesA Note on PoolsWhy are Miners ImportantAntpool ReviewBitfury InformationBTCC Mining Pool ReviewSlush Pool Review A Note on Pools While we can view that mining pools would be the largest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool .

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