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Now that you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are bands of cooperating miners who consent to discuss block benefits in proportion to their contributed mining hash power. While mining pools are desirable to the ordinary miner as they smooth out benefits and make them more predictable, they unfortunately concentrate power to the mining pools owner.

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

That can be based on info from Blockchains pool share graph: We strongly recommend new miners to join Slush Pool although it not being one of the greatest pools. It was the first Bitcoin mining pool and remains one of the most dependable and reliable pools, especially for beginners. 1. BTC.com BTC.com is a community mining pool which can be joined.

2. Antpool Antpool is a mining pool based in China and owned by BitMain. Antpool mines about 25% of all cubes. 3. ViaBTC ViaBTC is a somewhat 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% of all 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 dishonest. We recommend staying away from this pool.

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

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0%YesBTCCChina2-3%NoSlush PoolCzech Republic2percent NoAntpoolChina1percent NoBWChina1%No The comparison chart above is only a fast reference. The location of a pool does not matter all that much. The majority of the pools have servers in each country so even if the mining pool is located in China, you can connect to a host in the US, for example.

Mining Pools vs Cloud Mining Many men and women read about mining pools and think it is merely a group that pays out free bitcoins. This is not true! Mining pools are for men and women who have mining hardware to divide profits. Many men and women get mining pools confused with cloud mining. Cloud mining is where you pay a service provider to miner for you and you receive the benefits.

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Buying bitcoins is the EASIEST and FASTEST way to buy bitcoins. Get $10 worth of free bitcoins when you buy $100 or more at Coinbase. That Countries Mine the most Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. As Bitcoin mining is somewhat centralized, 10-15 mining companies have maintained 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 very economical and has enabled Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash electricity. Its rumored that some Chinese power companies point their surplus energy towards Bitcoin mining facilities in order that no energy goes to waste.

Its estimated that these mining pools own somewhere around 60% of Bitcoins hash electricity, meaning they mine roughly 60% of new bitcoins. Georgia Georgia is home to BitFury, one of the biggest producers of Bitcoin mining hardware and processors. BitFury currently mines about 15% 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 low powered bitcoin miners as part of the 21 Bitcoin computer. Most 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 about 80% of bitcoins. The remaining part of the hash power is spread across the rest of the world, often pointed at smaller mining pools such as Slush (Czech Republic) and Eligius (US). What's a mining poolGet that a Bitcoin Wallet and Mining SoftwareThe Biggest Mining PoolsBest Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the most BitcoinsOther my website CountriesA Note on PoolsWhy are Miners ImportantAntpool ReviewBitfury InformationBTCC Mining Pool ReviewSlush Pool Review A Note on Pools While we can see that mining pools would be the largest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool itself.

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