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Now you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool. What is a Mining Pool Mining pools are all groups of cooperating miners who consent to share block rewards 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 capability to the mining pools owner.

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

That is based on info from Blockchains pool discuss chart: We strongly recommend new miners to join Slush Pool despite it not being one of the biggest pools. It was the very 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 percent of all blocks. 3. ViaBTC ViaBTC is a somewhat new mining pool which has been around for about one year. Its targeted towards Chinese miners. Slush was the initial mining pool and currently mines about 3 percent of all blocks.

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DiscusFish, also known as F2Pool, is based 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 pool and Chinas third largest Bitcoin exchange. Its mining pool currently mines roughly 7 percent of all cubes. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines about 2% of blocks. BW, based in 2014, is another mining company based in China.

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0percent YesBTCCChina2-3%NoSlush PoolCzech Republic2percent NoAntpoolChina1%NoBWChina1percent No The comparison chart above is just a fast reference. The location of a pool does not matter all that much. Continue Most of the pools have servers in each country so even if the mining pool is based in China, you could connect to a host in the US, for instance.

Mining Pools vs Cloud Mining Many people read about mining pools and think it's merely a group that pays out free bitcoins. This is not correct! Mining pools are for people 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 supplier to miner for you and you receive the rewards.

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Buying bitcoins is the EASIEST and FASTEST way to buy bitcoins. Get $10 worth of free bitcoins when you purchase $100 or more in Coinbase. That Countries Mine the most Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. Since Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the vast majority of network hash electricity.

China China mines the very bitcoins and therefore ends up exporting the most bitcoins. Electricity in China is quite economical and has enabled Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash electricity. internet Its rumored that some Chinese electricity companies point their excess energy towards Bitcoin mining centers in order that no energy goes to waste.

Its estimated that these mining pools own somewhere around 60 percent of Bitcoins hash electricity, meaning that they mine about 60 percent 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 all 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 large amount of miners, but also sells low powered bitcoin miners as part of their 21 Bitcoin computer. Most of the hash electricity in the 21 Bitcoin computers is pointed towards 21s mining pool.

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Mines about 3 percent of bitcoins. Other Countries The countries above mine around 80 percent of bitcoins. The remaining part of the hash power is spread throughout the remainder of the world, often pointed at smaller mining pools such as Slush (Czech Republic) and Eligius (US). What's a important link mining poolGet a Bitcoin Wallet and Mining SoftwareThe Largest Mining PoolsBest Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the maximum BitcoinsOther CountriesA Note on PoolsWhy are Miners ImportantAntpool ReviewBitfury InformationBTCC Mining Pool ReviewSlush Pool Review A Note on Pools While we can view that mining pools are 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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