Overview of Bitcoin Mining
Since the inception of the Bitcoin network on January 3, 2009, the total number of mined blocks has surpassed an impressive 910,000. Among these, nine prominent mining pools have been instrumental, collectively accounting for 48.78% of block discoveries. This report delves into the top ten mining entities that have uncovered 673,848 blocks, which is approximately 75% of the total blocks mined since the beginning of the network.
The Evolution of Bitcoin Mining
Initially, Bitcoin mining was an individual endeavor, where participants operated alone, wielding varying amounts of computational power. The evolution of mining hardware has seen a significant transition from central processing units (CPUs) to graphics processing units (GPUs), culminating in today’s specialized application-specific integrated circuits (ASICs). In 2010, a notable milestone was achieved when Marek Palatinus, widely known as Slush, established the first recognized Bitcoin mining pool—Slush Pool, which has since rebranded as Braiins Pool.
Major Mining Pools
The landscape of Bitcoin mining has changed dramatically over time, seeing some pools rise to dominance and others fade away. A significant category consists of anonymous miners, whose identities remain concealed within coinbase transactions. This group includes the mysterious Satoshi Nakamoto, early Bitcoin adopters, and others who contributed during Bitcoin’s nascent phase. While many of these early blocks were mined independently, a few unknown miners still occasionally strike gold today, even though this practice has become increasingly rare.
Antpool
Among the larger players in the mining industry is Antpool, which has a longstanding reputation. Although it was once under the ownership of Bitmain, it now operates independently yet maintains close associations with the company. Today, Antpool is the second-largest mining pool by hashrate, just behind Foundry.
F2pool
Another significant entity, F2pool—originally known as Discus Fish—was established in China in 2013. It has evolved to become a strong multi-asset mining pool, contributing a substantial number of Bitcoins while supporting various other cryptocurrencies.
Foundry USA
Foundry USA, launched in 2020 and operated under the umbrella of Foundry Digital (a subsidiary of the Digital Currency Group), has quickly gained traction as one of the leading pools as of 2025. Benefiting from a burgeoning North American mining sector and institutional interest, it currently ranks fourth in the historical count of blocks found and captures a remarkable 32.42% of the total hashrate in the past few days.
ViaBTC
Founded by Haipo Yang in May 2016, ViaBTC is another notable mining pool that swiftly ascended to prominence. With pioneering services, including the first industry payment method known as PPS+, it supports a multitude of cryptocurrencies and boasts a user base of over 1.7 million across more than 150 countries.
Braiins Pool
Braiins Pool, which has retained its status as a critical player in the industry, dates back to November 2010 when it was initiated by Marek Palatinus. As the first publicly available bitcoin mining pool, it introduced a unique share system that allowed miners to merge their resources for predictable returns. Today, it is renowned for its transparency and innovative protocols like Stratum V2.
BTC Guild
BTC Guild was launched in 2011 and at one time commanded more than 40% of the network’s hashrate, significantly contributing to miners’ payouts. Unfortunately, it ceased operations in June 2015 due to regulatory challenges and mounting competition.
Poolin
Established in 2017 by former executives of Btc.com, Poolin rapidly became one of Bitcoin’s leading mining pools. Despite facing liquidity issues that affected its influence by 2022, it left a lasting legacy within the mining community.
Ghash.io
Ghash.io, operated by the exchange CEX.IO, briefly dominated the mining landscape in 2013, surpassing 50% of the network’s hashrate. This raised alarms concerning centralization. However, the pool diminished in prominence and ultimately shut down in 2016 as competitive and regulatory pressures mounted.
Binance Pool
Emerging in April 2020, Binance Pool tapped into the vast user base of the Binance exchange to quickly establish itself within the Bitcoin mining sector. Although relatively new, it has made significant contributions by mining thousands of blocks and providing innovative services such as Full Pay-Per-Share (FPPS) payouts.
Conclusion
The evolution of Bitcoin’s mining ecosystem illustrates not only the entities that have played pivotal roles in shaping the cryptocurrency’s infrastructure but also hints at the power dynamics that will influence its future. As institutional entities gain more control over the hashrate and traditional mining players recede, the equilibrium between decentralization and centralization continues to hang in the balance. The progression of mining pools remains a decisive factor in determining whether Bitcoin will maintain its foundational trustlessness or become subject to new forms of governance. Amidst this landscape lies a complex narrative of technological advancement, governance shifts, and the inherent competition that defines Bitcoin’s ongoing story.
