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In a mining pool, everyone on the platform offers his or her computing resources, and the pool of computing power will be united and channelled towards the digital digging out of new bitcoins. The only way new Bitcoins are produced is through mining; Bitcoin is sustained by its miners. When miners are successful, harsh market conditions will not affect them much.
In this article, we will look at the best Bitcoin mining pools for the year 2023.
BRAIINS (Slush Pool)
This mining pool has been in operation since 2010. It was formally known as the Slush Pool. This is obviously the very first mining pool for bitcoin. This pool distributes profits to each miner on the platform based on the number of shares contributed by each miner.
F2pool
Unlike BRAIINS, F2pool mines different types of cryptocurrencies. It started operating in 2013 in China. And this was the first mining pool in China. And within a very short time after the mining company started, it became the biggest mining pool in the world, as it holds one-third of the computational power on the entire bitcoin network.
Apart from its outstanding growth, f2pool became the first mining pool to introduce an automatic payout system. This brought convenience and security to the miners. Currently, f2pool holds the position of the world’s second-biggest active Bitcoin mining pool.
BTC.com
BTC Pool began operation in 2015. Bitmain Technologies is the brain behind BTC.com. Bitmain Technology is one of the world’s leading producers of mining equipment. This pool uses a payment method that ensures miners receive payment even when new blocks are not found. This payment system is called FPPS (which stands for Full Pay Per Share).
Currently, this mining pool is among the top five biggest mining pools.
Antpool
Antpool is also run by Bitmain Technology. It started in Beijing, China, in 2014. They provide pool services to a variety of customers, from individuals to mining firms. Miners also get paid whether new blocks are discovered or not. Since its inception in 2014, Antpool has been one of the few consistent mining pools.
Foundry USA
This is a part of the Digital Currency Group, which is in some ways similar to CoinDesk. It provides different types of services, from consulting to mining. Recently, Foundry USA became a force to reckon with as it controls more than 20% of the entire network’s hash rate for 2022.
Via BTC
This mining pool started in 2016. Over the years, it had grown to be among the world’s largest and most well-known mining pools. ViaBTC even has facilities that allow an individual miner to go solo and have the whole reward. This mining pool also ranks among the top five.
Binance Pool
As we can see from the name, this mining pool is part of the services provided by Binance. It started in 2017. It was among the top four mining pools in 2021 and this year (2022). Within these two years, it had mined 1,000 more blocks than in the previous year. Binance is innovative. They have launched a cloud mining service for users to have access to mining facilities for a price. However, these facilities are expensive.
SBI Crypto
This mining pool started in 2018. SBI Crypto is based in Japan. This firm has even been mining cryptocurrency earlier than 2018. However, it wasn’t until last year that it opened to offer services to mining firms and individuals. This year, SBI Crypto has achieved a place among the top 10 mining pools.
Poolin
Poolin officially launched at the end of 2019 and has since risen to the top of the mining pool rankings. However, recently, they began to have liquidity problems. This made them drop out of their high-ranking position.
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