Satohs Nakatomto says in Bitcoin White Paper that Mining is an easy way to get cryptocurrency.
But that was back in 2008 now we are all come a long way from the inception of Bitcoin.
Now mining is not an easy process to get a cryptocurrency, back in initial days of bitcoin, you just need 2-4 GB RAM capacity computers to mine bitcoin.
But now you already know that bitcoin is dominating the crypto market by 50% or more, so bitcoin blockchain became bigger and miners need more power to mine bitcoin.
It is not only in case of bitcoin after cryptocurrencies gaining more popularity entire cryptomarket need more mining power to mine cryptocurrencies, that’s why of mining pools come into existence to solve the problem.
Mining pools are the group of cooperative miners who agreed to share block rewards in portion to their contributed mining hash power.
There are two methods in mining one is ordinary mining by using mining hardware to split profits.
Another method is Cloud mining, cloud mining is where you pay a service provider to the miner for you and you get the rewards.
Nowadays cloud mining also becoming a more popular method for mining process, because of that we are also looking at some cloud mining platforms in this post.
Ok, let’s look at some pools one by one.
Our first list is Bitmain, Bitmain started in 2013 by designing ASIC and manufacturing mining rigs.
Look at the above image, top 3 hashrate distribution mining pools controlled by Bitmain.
AntPool and BTC.com, two mining pools operated by Bitmain and they contribute almost 1/3 of the total hashing power for all the Bitcoin mining pool.
In addition, the second largest pool, ViaBTC, has received a significant investment from Bitmain as well.
ViaBTC, BTC.com, and AntPool are all public pools, a public pool means that anyone can join or leave the pool at any time, but there is still a great concern that a single company like Bitmain is affiliated to almost 50% of all the hashing power on the Bitcoin network.
Slush Pool, also formerly known as Bitcoin.cz Mining is the oldest mining pool, Slush pool is run by Satoshi Labs and was the world’s first ever Bitcoin mining pool. It’s advanced yet also a great pool for beginners.
Slush Pool control 10.2 % of bitcoin hashing power on the Bitcoin network.
Slush is probably one of the best and most popular mining pools despite not being one of the largest.
Satoshi Labs runs Slush Pool. They also make the Bitcoin TREZOR hardware wallet and Coinmap.org.
Bitfury Group is the largest full-service blockchain technology company in the world.
Bitfury is the third largest Bitcoin mining pool and mines about 11% of all blocks.
The Bitfury mining facility in Georgia utilizes the naturally cold climate to reduce operating costs and keep the mining rigs running cool.
The main difference between the Bitfury pool and other mining pools is that Bitfury is a private pool.
Also, Bitfury makes its own mining hardware and runs its own pool. So, unlike Slush or Antpool, Bitfury cannot be joined if you run mining hardware at home.
Poolin core team once served Bitmain and created BTC.com Pool, the world’s largest BTC mining pool. After that, Poolin mining pool was set up.
Now poolin mining pool mines about 5.7% of all blocks of the Bitcoin network.
Also, Poolin is a multi-cryptocurrency mining pool, supporting mining of Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Dash (DASH), Ethereum (ETH), Monero (XMR), ZCash (ZEC), Monero Classic (XMC), DCR etc.
Above image is taken from bitclubnetwork.com
BitClub Network pool is one of cloud mining pool and it is been operated since 2014.
If you join Bitclub network you do not need any specialized software and hardware to mine cryptocurrency, you just have to pay a fee to acquire their mining power and they mine for you and you get mining reward.
BitClub Network became top 10 bitcoin miners in just 2 years. This is due to their comprehensive automated repurchase plan which ensures that upgrades to existing hardware can be made whenever a new version is available, all without requiring additional funds from members along the way.
These upgrades are a key component part of the programme that allows BitClub Network to remain sustainable and profitable in mining over the years.
The Genesis CloudMining facility was founded in 2013.
Genesis mining one of the first mining facilities developed exclusively to mine Ethereum. Today the mining facility also mines additional coins such as Zcash, Dash, and Monero.
This giant mining facility is powered exclusively by geothermal energy and is considered the largest ETH mining platform in the world.
These are some big mining facilities in the world to mine cryptocurrencies, but there are also some private mining facilities available and they not disclose their identity like BTC. Top, GBMiners etc.
It is difficult to rank which is a big mining facility because of cryptocurrencies becoming more and more popular and more and more mining chips are developing to make the mining process easy this will increase competition in the sector and make mining cryptocurrencies, even more, cost inhibiting.
Some Altcoins are developing blockchains that do not permit the use of ASIC Miner because to help reduce centralization occurring in the market as you already know Bitmain case, Bitmain solely control 50% of hashing power in bitcoin mining and it gives an opportunity to conduct 51% attack on the network but in the end, if there is profit involved, people will always develop a more efficient means of attaining it.