Bitcoin Mining Pool Rewards Consolidation Revealed
A recent analysis by The Miner Mag highlights a trend of consolidation in bitcoin mining pool rewards. Ten out of the fifteen largest mining pools have been merging their coinbase block rewards since early 2022. Notable pools involved in this trend include Binance Pool, BTC.com, and Braiins Pool, among others.
Previously operating independently, these pools are now sending their block rewards to shared output addresses, indicating a shift towards more cooperative operations. Antpool, in particular, has played a prominent role in this consolidation movement, with other major pools following suit and routing their rewards to coincide with Antpool’s.
This consolidation suggests the presence of financial arrangements to stabilize daily payouts, considering that all these pools utilize a Full Pay-per-Share (FPPS) model. The Miner Mag’s research suggests the involvement of a dominant financing entity, possibly linked to Antpool or other Bitmain-related entities.
Implications of Consolidation in Bitcoin Mining Rewards
The Miner Mag’s report raises questions about the autonomy and interdependence of bitcoin mining operations. The consolidation of rewards and potentially hashrate to Antpool indicates a shift in mining dynamics within the community.
As of December, Antpool is leading the charge by mining 26.6% of the blocks, with Binance Pool and other parties in the group accounting for a significant portion. While Antpool was the top earner in November, Foundry USA currently holds the lead this month in terms of total hashrate.
Hot Take: Consolidation and the Evolution of Bitcoin Mining
In a significant shift within the bitcoin mining landscape, Antpool’s resurgence in 2023 has marked a notable trend in the consolidation of bitcoin rewards, surpassing Foundry USA in blocks mined. The Miner Mag’s recent analysis reveals that Antpool, along with other major pools, has centralized coinbase block rewards, reflecting a deeper, more interconnected mining ecosystem. This consolidation hints at unknown and strategic financial arrangements and evolving power dynamics among leading mining pools.
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