Antpool, a Bitcoin mining entity affiliated with Bitmain, has recently overtaken Foundry USA as the largest mining pool for BTC mining. This shift in position was reported by MinerMag data, which showed that Antpool mined 1,219 blocks in November 2023, slightly ahead of Foundry USA’s 1,216 blocks.
Foundry USA, a subsidiary of the Digital Currency Group (DCG), had been leading the mining pool table since January 2022. However, Antpool’s rising hash rate since June 2023 has narrowed the gap in blocks mined between the two entities.
The change in ranking comes after Bitmain’s significant shipment of over 4,800 metric tons of Antminer S19XP and S19XP Hydro to its U.S. subsidiary in Georgia. This influx of mining equipment likely contributed to Antpool’s increased mining capabilities.
According to the Hashrate Index data, Antpool now holds a 26% share in Bitcoin mining pool distribution, surpassing Foundry USA’s 25% share. This indicates a significant shift in the distribution of mining power within the Bitcoin network.
In November, miner-generated revenue saw a surge, as reported by Intotheblock data. The total subsidy gathered by miners amounted to approximately $1.01 billion. This highlights the profitability and potential of Bitcoin mining, especially with the recent surge in Bitcoin’s price.
It is worth mentioning that AntPool made headlines recently when it announced it would refund a $3 million transaction fee it handled. This transaction fee was the result of a probable user error, leading to the highest-ever charge paid for a Bitcoin network transfer. AntPool’s decision to refund the fee demonstrates its commitment to customer satisfaction and integrity within the Bitcoin network.
As the largest mining pool for BTC mining, Antpool’s continued success and growth are expected to have a significant impact on the Bitcoin network. With the ongoing advancements in mining technology and the increasing popularity of cryptocurrencies, the competition among mining entities is likely to intensify. It will be interesting to see how Antpool maintains its position and adapts to the evolving landscape of Bitcoin mining.
In conclusion, Antpool’s claim to the position of the largest mining pool for BTC mining highlights the dynamic nature of the cryptocurrency industry. The shift in ranking from Foundry USA signifies the competitiveness and constant evolution within the mining sector. As Bitcoin continues to gain mainstream adoption, mining entities like Antpool play a crucial role in securing the network and facilitating its growth.