Bitcoin Centralization: Foundry USA and Antpool Responsible for Over Half of Global Hash Rate

2. Januar 2023

• Two mining pools, Foundry USA and Antpool, are responsible for over half of the global hash rate in the second half of December.
• We looked at Foundry and Antpool to see what’s behind the mining behemoths and if Bitcoin is really as centralized as it looks.
• Bitcoin’s centralization is a problem that concerns the whole market, as it is reliant on only a handful of centralized validators.

The centralization of Bitcoin’s global hash rate has been an issue that has been largely overlooked in the crypto industry as of late. A recent analysis of the network’s hash rate revealed that two mining pools, Foundry USA and Antpool, are responsible for over half of the global hash rate in the second half of December. This has caused many to raise questions about the actual decentralization of Bitcoin and other blockchain networks.

While the mining ban in China had largely removed the issue from mainstream discussions, the centralization of Bitcoin is still a problem that needs to be addressed. Foundry USA and Antpool have managed to produce more than a quarter of the network’s blocks in the past ten days each, with Foundry accounting for 26.98% of the network and Antpool responsible for 24.68%.

At the same time, many analysts have voiced their concerns about the implications of centralization of a multi-billion dollar cryptocurrency such as Bitcoin. With only a handful of centralized validators, the network becomes more vulnerable to 51% attacks and other malicious activities. Furthermore, the concentration of power in the hands of a few miners could theoretically lead to manipulation of the network by a single entity.

To better understand the implications of Bitcoin’s current state of centralization, we looked at Foundry USA and Antpool to see what’s behind the mining behemoths and if Bitcoin is really as centralized as it looks.

Foundry USA is a U.S.-based mining pool founded in 2018 by Digital Currency Group. It is now the largest Bitcoin mining pool in North America and the second largest in the world. Foundry is known for its innovative approach to mining, offering its customers access to a wide range of services such as hosting, cloud mining, and equipment leasing.

Antpool, on the other hand, is a Chinese mining pool operated by Bitmain, a well-known mining hardware manufacturer. The pool is the largest mining pool in the world, and has been controlling a large portion of the Bitcoin network since its launch in 2014.

In conclusion, it is clear that the centralization of Bitcoin’s global hash rate is a problem that needs to be addressed. While Foundry USA and Antpool are both reputable companies, their control over a large portion of the network is concerning and could lead to potential issues in the future. It is important to keep in mind that Bitcoin is a decentralized network, and any manipulation or centralization of the network could lead to disastrous consequences. Therefore, it is imperative to ensure that the network remains decentralized and secure in order to protect its users and its value.