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Foundry USA and Antpool Control 56.7% of Bitcoin Hashrate

Centralization concerns rise as two mining pools dominate.

1 min 10 secAugust 26, 2024

Highlights:

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Foundry USA: 215.79 EH/s; Antpool: 153.55 EH/s.

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Potential risks of a 51% attack loom over Bitcoin's security.

Foundry USA and Antpool Control 56.7% of Bitcoin Hashrate

In a concerning development for the Bitcoin community, the two largest mining pools, Foundry USA and Antpool, have amassed significant control over the network's hashrate. Recent data reveals that these two pools now account for a staggering 56.7% of the total Bitcoin network hashrate, which stands at around 651 EH/s.

 

 

Foundry USA, owned by Digital Currency Group, contributes 215.79 EH/s, while Antpool, operated by China's Bitmain Technologies, adds 153.55 EH/s to the network. This concentration of power raises concerns about the centralization of Bitcoin mining and the potential risks it poses to the network's decentralization and security.

 

The rivalry between Foundry USA and Antpool has intensified in recent months, with both pools vying for dominance. The growing influence of these two pools has led to speculation about the geopolitical implications, as Foundry USA aligns with US interests, while Antpool reflects Chinese influence.

 

Many experts warn that the increasing centralization of Bitcoin mining could jeopardize the network's integrity. If a single pool were to control more than 50% of the network hashrate, it could potentially launch a 51% attack, undermining the network's security and reliability.

 

 

The Bitcoin community has already witnessed instances of transaction censorship by large mining pools, such as F2Pool's compliance with economic sanctions in 2023. This has sparked concerns about the potential for censorship and control by dominant mining pools.

 

As the Bitcoin network continues to grow and evolve, it is crucial for the community to address the issue of mining centralization and ensure that the network remains decentralized and secure for the long term.

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