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Now you have Bitcoin mining equipment, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are groups of cooperating miners who agree to share block benefits in proportion to their contributed mining hash power. While mining pools are desirable to the average miner as they smooth out rewards and make them more predictable, they unfortunately concentrate capability to the mining pools owner.

Pool Concentration in China Before we get into the very best mining pools to join, its important to note that most mining pools are in China. Many only have Chinese sites and support. Mining centralization in China is one of Bitcoins biggest issues at the moment. There are about 20 major mining pools.

This is based on info from Blockchains pool discuss chart: We strongly recommend new miners to join Slush Pool although it not being one of the biggest pools. It was the first Bitcoin mining pool and remains one of the most reliable and reliable pools, particularly for beginners. 1. BTC.com BTC.com is a public mining pool that can be joined.

2. Antpool Antpool is a mining pool located in China and owned by BitMain. Antpool mines about 25% of all cubes. 3. ViaBTC ViaBTC is a new mining pool that has been around for approximately one year. Its targeted towards Chinese miners. Slush was the initial mining pool and currently mines about 3 percent of blocks.

 

 

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DiscusFish, also known as F2Pool, is located in China. F2Pool has mined about 5-6% of all blocks over the previous six months. 6. BTC.top BTC.top is a private pool and cannot be joined. 7. Bitclub.Network Bitclub Network is a large mining pool but appears to be somewhat shady. We recommend staying away from this pool.

BTCC BTCC is a pool and also Chinas third biggest Bitcoin exchange. Its mining pool currently mines about 7% of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines about 2% of all blocks. BW, based in 2014, is another mining company based in China.

 

 

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0percent YesBTCCChina2-3percent NoSlush PoolCzech Republic2%NoAntpoolChina1%NoBWChina1%No The comparison chart above is just a fast reference. The location of a pool does not matter all that much. The majority of the pools have servers in every country so even if the mining pool is located in China, you can connect to a server in the US, for instance.

Mining Pools vs Cloud Mining Many people read about mining pools and think it is just a group that overlooks free bitcoins. This is not correct! Mining pools are for men and women who have mining equipment to divide profits. Many people get mining pools confused with cloud mining. Cloud mining is where you pay a service provider to miner for you and you receive the rewards.

 

 

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Buying bitcoins is the EASIEST Look At This and FASTEST way to purchase bitcoins. Get $10 worth of free bitcoins when you purchase $100 or more at Coinbase. That Countries Mine the many Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. As Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the great majority of network hash electricity.

China China mines the most bitcoins and therefore ends up exporting the many bitcoins. Electricity in China is quite cheap and has enabled Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash electricity. Its supposed that some Chinese power companies point Bitcoin Trading Profit Calculator their surplus energy towards Bitcoin mining centers in order that no energy goes to waste.

Its estimated these mining pools own somewhere around 60 percent of Bitcoins hash electricity, meaning they mine roughly 60 percent of all new bitcoins. Georgia Georgia is home to BitFury, one of the largest producers of Bitcoin mining hardware and processors. BitFury currently mines about 15 percent of bitcoins. Sweden Sweden is home to KnCMiner, a Bitcoin mining company based in Stockholm.

US The US is home to 21 Inc., a Bitcoin mining company based in California. 21 runs a massive amount of miners, but also sells non powered bitcoin miners as part of the 21 Bitcoin computer. The majority of the hash electricity from the 21 Bitcoin computers is pointed towards 21s mining pool.

 

 

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Mines about 3% of all bitcoins. Other Countries The countries above mine around 80 percent of all bitcoins. The remaining part of the hash electricity is spread throughout the rest of the world, often pointed at smaller mining pools like more info here Slush (Czech Republic) and Eligius (US). What's a mining poolGet a Bitcoin Wallet and Mining SoftwareThe Largest Mining PoolsBest Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the most BitcoinsOther CountriesA Note on PoolsWhy are Miners ImportantAntpool ReviewBitfury InformationBTCC Mining Pool ReviewSlush Pool Review A Note on Pools While we can view that mining pools would be the largest, its important to understand that the hash electricity pointed towards a mining pool isnt necessarily owned by the mining pool .

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