Poolin became the second largest mining pool on the bitcoin network in terms of hash rate
In the bitcoin mining industry, a reshuffling of forces continues amid the continuous growth of the network’s aggregate hash rate.
For example, the Poolin mining pool, founded in 2017, has recently moved into second place in terms of total computing power, moving the “old man” F2Pool, which has been on the market since 2013, to third place. This was noticed by Poolin themselves on Twitter.
Poolin has played an important role in the rapid growth of bitcoin hash rate over the past months. Since the beginning of July, it has almost doubled its computing power, from 6.14 EH / s to 12.16 EH / s. During the same time, the hash rate of the BTC.com pool, which continues to lead, fell by several percent – from 14.19 EH / s to 13.75 EH / s.
While the decline in the share of the total computing power of the mining pools managed by Bitmain, which once controlled about half of the computing resources of the Bitcoin network, is seen as a positive signal, Poolin and other leading players in this space belong to the Chinese miner family. Thus, the computing power of bitcoin is still concentrated mainly in one country..
Blockstream recently announced the opening of its own Bitcoin mining facilities in Canada, whose production capacity shortly before the announcement corresponded to approximately 10% of the bitcoin hash rate..
Poolin, in turn, said their farms were unaffected by the recent flooding in China, which damaged the infrastructure of some competitors..
According to the Blockchain portal, on Tuesday, another maximum was set in terms of hash rate in the bitcoin network above 97 EH / s.