This is because all Bitcoin mining pools will ask you for a Bitcoin address that will be used to send your mining rewards and payouts. Broken down by the percent of hash power controlled by a pool, and the location of that pool’s company, we estimate that Chinese pools control ~65% of the network hash rate: Mining centralization in China is one of Bitcoin’s biggest issues at the moment. Many only have Chinese websites and support. Pool Concentration in Chinaīefore we get into the best mining pools to join, it’s important to note that most mining pools are in China. Miners can, however, choose to redirect their hashing power to a different mining pool at anytime.įinding a good mining pool is important because its going to save you money. 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. Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power. Now that you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool or buy bitcoin. Jordan Tuwiner Last updated January 10, 2022
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