Top 10 Bitcoin Mining Pools in 2024

by Nov 29, 2023Blockchain Technology0 comments

Bitcoin mining is securing and validating transactions on the Bitcoin network. Miners use specialized hardware and software to solve complex mathematical problems and earn rewards through new bitcoins and transaction fees. However, mining is not easy, as it requires a lot of computing power, electricity, and technical knowledge. That’s why many miners join mining pools, groups of miners who pool their resources together to share their hashing power and split the reward equally according to the number of shares they contributed to solving a block. Mining pools help make revenue for miners more predictable and reduce the variance of finding blocks. But how do you choose the best mining pool for your needs? There are many factors to consider, such as the pool’s size, location, fee, reward system, security, reputation, and customer support. In this article, we’ll review the top 10 Bitcoin mining pools in 2023 based on their market share, features, and performance. We’ll also give you some tips on how to join a mining pool and optimize your earnings.

1. Foundry USA

Foundry USA is one of the largest Bitcoin mining pools in North America. It was launched in 2020 by Foundry Digital LLC, a subsidiary of Digital Currency Group (DCG), one of the most influential companies in the crypto industry. Foundry USA aims to provide institutional-grade mining services and support for North American miners.

Foundry USA

Foundry USA has an estimated hash rate of 26.4% of the total network hash rate as of January 2023. It operates servers in multiple locations across North America. This top Bitcoin mining pool uses FPPS as its reward system with a fee of 0%. It also offers various benefits for its miners, such as low electricity rates, equipment financing options, logistics solutions, training programs, and staking services.

Foundry USA is a reputable and secure pool that contributes to the decentralization and development of the Bitcoin network. It also supports Stratum V2, a new protocol that improves efficiency and security for miners. You can join Foundry USA by contacting them via their website.

2. AntPool

AntPool is one of the world’s oldest and largest Bitcoin mining pools. It was founded in 2014 by Bitmain, one of the leading mining hardware manufacturers. AntPool has a global presence with servers in Asia, Europe, and North America.

AntPool

AntPool has an estimated hash rate of 18.8% of the total network hash rate as of January 2023. It offers various reward systems, such as PPS, PPLNS, FPPS, and SOLO, with a fee ranging from 0% to 5%, depending on the system. It also provides features such as daily payouts, low thresholds, real-time statistics, mining alerts, and security protection.

AntPool is a reliable and trustworthy pool with a strong mining community reputation. It also supports cryptocurrencies besides Bitcoin, such as Bitcoin Cash, Litecoin, Ethereum, Zcash, Dash, etc. You can join AntPool by registering on their website and creating a sub-account.

3. F2Pool

F2Pool is another veteran and popular Bitcoin mining pool established in 2013. It is also known as Discus Fish Pool due to its logo. F2Pool has a global reach with servers in China, the US, Russia, Europe, and other regions.

F2Pool

F2Pool has an estimated hash rate of 13.6% of the total network hash rate as of January 2023. It uses PPS+ and PPLNS as its reward systems with a 2.5% and 3% fee, respectively. It also offers daily payouts, low thresholds, real-time statistics, mining alerts, and security protection.

F2Pool is a stable and transparent pool that has a loyal user base. It also supports cryptocurrencies besides Bitcoin, such as Ethereum, Litecoin, Zcash, Monero, etc. You can join F2Pool by registering on their website and creating a sub-account.

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4. Binance Pool

Binance Pool is a relatively new Bitcoin mining pool launched in 2020 by Binance, one of the largest cryptocurrency exchanges in the world. This top Bitcoin mining pool aims to provide comprehensive mining services and solutions for miners of all sizes.

Binance Pool

Binance Pool has an estimated hash rate of 11.5% of the total network hash rate as of January 2023. It uses FPPS as its reward system with a fee of 1.5%. It also offers daily payouts, low thresholds, real-time statistics, mining alerts, and security protection.

Binance Pool is a convenient and versatile tool that integrates with the Binance ecosystem. It also supports cryptocurrencies besides Bitcoin, such as Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, etc. You can join Binance Pool by registering on their website and creating a mining account.

5. ViaBTC

ViaBTC is a well-known and reputable Bitcoin mining pool founded in 2016. This top Bitcoin mining pool has a global presence with servers in China, the US, Europe, Japan, Korea, Singapore, and Brazil.

ViaBTC

ViaBTC has an estimated hash rate of 9.4% of the total network hash rate as of January 2023. It offers various reward systems, such as PPS+, PPLNS, and FPPS, with a fee ranging from 2% to 4%, depending on the system. It also offers daily payouts, low thresholds, real-time statistics, mining alerts, and security protection.

ViaBTC is a stable and transparent pool that has a loyal user base. It also supports cryptocurrencies besides Bitcoin, such as Litecoin, Bitcoin Cash, Dash, Zcash, Monero, etc. You can join ViaBTC by registering on their website and creating a sub-account.

6. Slush Pool

Slush Pool is the oldest and one of the world’s most respected Bitcoin mining pools. It was founded in 2010 by Marek Palatinus, aka Slush, also co-founder of Trezor, one of the leading hardware wallet providers. Slush Pool has a strong focus on innovation and community.

Slush Pool has an estimated hash rate of 11.9% of the total network hash rate as of January 2023. It uses a unique score-based reward system with a fee of 2%. It also offers daily payouts, low thresholds, real-time statistics, mining alerts, and security protection.

Slush Pool is a stable and transparent pool with a loyal user base. It also supports various cryptocurrencies besides Bitcoin, such as Zcash. You can join Slush Pool by registering on their website and creating a worker.

7. Poolin

Poolin is a leading Bitcoin mining pool founded in 2017 by former Bitmain employees. Poolin has a global presence with servers in China, the US, Europe, Singapore, and Russia.

Poolin

This top Bitcoin mining pool has an estimated hash rate of 10.8% of the total network hash rate as of January 2023. It uses PPS+ as its reward system with a fee of 2.5%. It also offers daily payouts, low thresholds, real-time statistics, mining alerts, and security protection.

Poolin is a reliable and professional pool with a high-performance infrastructure and a dedicated support team. It also supports cryptocurrencies besides Bitcoin, such as Bitcoin Cash, Bitcoin SV, Litecoin, Ethereum, Zcash, Dash, etc. You can join Poolin by registering on their website and creating a sub-account.

8. BTC.com

BTC.com is another veteran and popular Bitcoin mining pool founded in 2016 by Bitmain. BTC.com has a global presence with servers in China, the US, Europe, and South America.

BTC.com

This top Bitcoin mining pool has an estimated hash rate of 9.2% of the total network hash rate as of January 2023. It uses FPPS as its reward system with a fee of 1.5%. It also offers daily payouts, low thresholds, real-time statistics, mining alerts, and security protection.

BTC.com is a reliable and professional pool with a high-performance infrastructure and a dedicated support team. It also supports cryptocurrencies besides Bitcoin, such as Bitcoin Cash and SV. You can join BTC.com by registering on their website and creating a sub-account.

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9. Huobi Pool

Huobi Pool is a relatively new Bitcoin mining pool launched in 2018 by Huobi, one of the largest cryptocurrency exchanges in the world. This top Bitcoin mining pool aims to provide comprehensive mining services and solutions for miners of all sizes.

Huobi Pool

Huobi Pool has an estimated hash rate of 7.6% of the total network hash rate as of January 2023. It uses PPS+ as its reward system with a fee of 2%. It also offers daily payouts, low thresholds, real-time statistics, mining alerts, and security protection.

Huobi Pool is a convenient and versatile tool that integrates with the Huobi ecosystem. It also supports cryptocurrencies besides Bitcoin, such as Ethereum, Litecoin, and Bitcoin Cash. You can join Huobi Pool by registering on their website and creating a sub-account.

10. OKx Pool

OKx Pool is another new Bitcoin mining pool launched in 2019 by OKx, one of the largest cryptocurrency exchanges in the world. This top Bitcoin mining pool aims to provide comprehensive mining services and solutions for miners of all sizes.

OKx Pool

OKx Pool has an estimated hash rate of 6.4% of the total network hash rate as of January 2023. It uses PPS+ as its reward system with a fee of 2%. It also offers daily payouts, low thresholds, real-time statistics, mining alerts, and security protection.

OKx Pool is a convenient and versatile tool that integrates with the OKx ecosystem. It also supports cryptocurrencies besides Bitcoin, such as Ethereum, Litecoin, and Bitcoin Cash. You can join OKx Pool by registering on their website and creating a sub-account.

How to Join a Bitcoin Mining Pool?

Once you have chosen a Bitcoin mining pool that suits your needs and knew what are they, you need to follow these steps to join it:

  • Get a Bitcoin wallet: You need a Bitcoin wallet to store your earnings from mining. You can choose from various types of wallets, such as hardware, software, web, etc. Make sure you choose a secure and reputable wallet that allows you to control your private keys. You can also use the OKx wallet, which is integrated with the OKx exchange and offers multiple features and benefits.
  • Get mining hardware: You need mining hardware to mine Bitcoin. You can choose from various types of hardware, such as ASIC miners, GPU miners, FPGA miners, etc. Make sure you choose powerful and efficient hardware that can generate enough hash rate and consume less electricity. You can also use the OKx marketplace, which is integrated with the OKx pool and offers multiple options and discounts for buying mining hardware.
  • Get mining software: You need mining software to connect your hardware to the pool. You can choose from various types of software, such as CGMiner, BFGMiner, EasyMiner, etc. Make sure you choose reliable software that supports your hardware and pool. You can also use the OKx miner, which is integrated with the OKx pool and offers multiple features and benefits for mining.
  • Configure your miner: Configure your miner with the pool’s settings. You must enter the pool’s address, port number, username, password, etc. You can find these settings on the pool’s website or tutorial. Make sure you enter them correctly and save them.
  • Start mining: You can start mining by running your mining software. You should see your hash rate and shares on the pool’s dashboard. You should also see your earnings in your wallet or account.

FAQ 

What is a Bitcoin mining pool?

A Bitcoin mining pool is a group of miners who share their hashing power and split the rewards proportionally to their contribution.

Why should I join a Bitcoin mining pool?

You should join a Bitcoin mining pool because it increases your chances of finding blocks and earning bitcoins. It also makes your revenue more predictable and reduces the variance of finding blocks.

How do I choose a Bitcoin mining pool?

You should choose a Bitcoin mining pool based on various factors, such as its size, location, fee, reward system, security, reputation, and customer support. You should also compare the features and benefits of different pools and see which suits your needs and goals.

How do I join a Bitcoin mining pool?

You must have a Bitcoin wallet, mining hardware, and mining software to join a Bitcoin mining pool. You must also register on the pool’s website and create a sub-account or worker. Then you need to configure your miner with the pool’s settings and start mining.

What are some of the best Bitcoin mining pools in 2023?

Some of the best Bitcoin mining pools in 2023 are Foundry USA, AntPool, F2Pool, Binance Pool, ViaBTC, Slush Pool, Poolin, BTC.com, Huobi Pool, and Luxor.

What are some of the reward systems used by Bitcoin mining pools?

Some of the reward systems used by Bitcoin mining pools are pay-per-share (PPS), pay-per-last-N-shares (PPLNS), proportional (PROP), score-based (SCORE), full pay-per-share (FPPS), etc.

What are some of the fees charged by Bitcoin mining pools?

Some of the fees charged by Bitcoin mining pools are the percentage of the payout or a fixed amount per share. The fees vary depending on the pool and the reward system.

What are some of the features offered by Bitcoin mining pools?

Some of the features offered by Bitcoin mining pools are daily payouts, low thresholds, real-time statistics, mining alerts, security protection, equipment financing options, logistics solutions, training programs, staking services, etc.

What are some of the security risks involved in Bitcoin mining pools?

Some of the security risks involved in Bitcoin mining pools are denial-of-service (DoS) attacks, double-spending attacks, 51% attacks, etc. You should choose a secure and reputable pool with robust infrastructure, encryption, authentication, backup, monitoring, and anti-DDoS measures.

What are some benefits of joining a Bitcoin mining pool integrated with a cryptocurrency exchange?

Some benefits of joining a Bitcoin mining pool integrated with a cryptocurrency exchange are convenience, versatility, and profitability. You can easily access your earnings and trade them for other cryptocurrencies or fiat currencies on the same platform. You can also enjoy lower fees and discounts for mining hardware or other services.

What are some challenges or drawbacks of joining a Bitcoin mining pool?

Some of the challenges or drawbacks of joining a Bitcoin mining pool are competition, centralization, regulation, and environmental impact. You must compete with other miners for rewards and deal with lower payouts per share. You must also trust the pool operator and follow their rules and policies. Depending on your location and jurisdiction, you may also face legal or regulatory issues. Moreover, you must consider the environmental impact of your energy consumption and carbon footprint.

Conclusion

Bitcoin mining pools are groups of miners who share their hashing power and split the rewards proportionally to their contribution. Mining pools help make revenue for miners more predictable and reduce the variance of finding blocks.

There are many factors to consider when choosing a Bitcoin mining pool, such as size, location, fee, reward system, security, reputation, and customer support. This article reviewed the top 10 Bitcoin mining pools in 2023 based on their market share, features, and performance.

We hope this article was helpful and informative.

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