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US Bitcoin mining pool beats chinese giants to become world’s largest

China’s persecution of Bitcoin miners and companies in the cryptocurrency market has changed the geography of the world’s BTC ecosystem.

 

US Bitcoin mining pool beats chinese giants to become world’s largest

Proof of this is that Foundry USA Pool, a Bitcoin mining pool located in the United States, surpassed all the biggest Bitcoin mining pools in China, becoming the biggest BTC pool in the world.

This shows that, after years of Chinese dominance in mining, the US has been gaining ground. In addition, the fact also marks the first time in history that a US pool ranks first in BTC mining.

While Foundry does not have the highest hash rate on the monthly average, it is already five days ahead of Chinese pools.

Traditionally, the pool list according to hash rate is led by AntPool and F2Pool, both from China. However, that changed when the Foundry USA Pool surpassed 17% of Bitcoin’s global mining power.

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As the graph shows, Foundry USA has a less than 1% advantage against the largest Chinese pool, AntPool. Also, it has just over 5% against F2Pool.

The data also show that the United States has become one of the main destinations for Chinese miners.

In October of this year, the North American country had already become the biggest mining provider in the Bitcoin network. That month, the US held 35.4% of the global hash, according to a study published by the Cambridge Center for Alternative Finance.

This is not, however, the first time that a pool outside China tops the list of the world’s biggest miners. Last time, it was Holland that achieved such a feat.

In 2014, GHash.io, a pool funded by the CEX.io exchange, had a hash rate of over 51%.

This situation caused a stir in the Bitcoin community. After all, such mining power gave this pool enough power to “control Bitcoin”.

So, to prevent the reliability of the Bitcoin network from being compromised, GHash.io dec...

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