Bitcoin mining is still one of the most relevant ways to earn BTC. However, because of the rapidly rising mining difficulty, the requirements for mining equipment are growing, too. While some five years ago you could mine BTC with your smartphone, today even the most powerful graphics cards prove to be inefficient.
Before you start using your ASICs, GPUs, or whatever piece of equipment you have, you need to decide which type of mining to choose. There are two: solo and pool mining. Before Bitcoin and the cryptocurrency industry became widespread, solo mining was very common: miners had enough technological capacity to mine new blocks and enjoyed generous BTC rewards.
Before 2017, the complexity of mining and general hash rate used to be low. However, as the number of miners increased, so grew the need for powerful equipment and energy-intensive farms. Now, in 2019, building your own mining rig is quite expensive and is not always financially justified.
The solution? Hunt for BTC together with other miners!
What is a Bitcoin Mining Pool?
When miners’ own capacity proved to be lacking, they decided to combine the power of their equipment. This is how mining pools appeared. Mining pool is a website that divides the big task (calculations) into small ones and distributes them between the capacities of different devices connected to it. When a group of miners generates a block, it shares the award among all participants. The more tasks are solved by a miner’s device, the more BTC its owner will get.
While mining pools will not generate BTC for you, they will help you find people you can combine your power with. Some websites also offer Bitcoin cloud mining. Such platforms allow users to form miner groups and distribute the reward in a fair, transparent way.
Current Bitcoin Hashrate Distribution
On this pie chart, you can see the Bitcoin mining pool distribution by the share & hash rate:
The most popular BTC mining pools are BTC.com, Poolin, F2Pool, and AntPool.
Bitcoin Mining Pools Comparison
Let’s compare the largest Bitcoin mining pools:
|Pool||Supported Equipment||Supported Coins||Hash Rate||Type Of Reward|
|Poolin||ASIC, GPU||BTC, BCH, BSV, LTC, DASH, XMR, ZEC, DCR, ETN, PIN||16,793.12 PH/s||PPS, FPPS, PPLNS|
|F2Pool||ASIC, GPU||BTC, ETH, LTC, DASH, XMR, ZEC, ETC, XMC, DCR, SC, SCC, XZC, AION||12,667.01 PH/s||PPS|
|Antpool||ASIC, GPU||BTC, LTC, ETH, ETC, DASH||9,468.53 PH/s||PPS, PPLNS|
|Huobi.pool||ASIC, GPU||BTC, BCH, ETH, ETC, LTC и DCR, GRIN, SC, TRTL||5,918.94 PH/s||PPS, FPPS|
|ViaBTC||ASIC, GPU||BTC, BCH, LTC, ETH, ETC, DASH, ZEC, XMR, BTM||5,904.44 PH/s||PPS, PPLNS, Solo mining|
|BTC.TOP||ASIC||BTC, BCH, LTC, DASH||4,609.28 PH/s||PPS|
|BitFury||ASIC, GPU||BTC, ETH, BCH or LTC||3,092.44 PH/s||Unknown (the pool is closed)|
|Bitcoin.com||ASIC, GPU||BTC, BCH||516.3 PH/s||PPS, PPLNS|
|Slush Pool||ASIC, GPU||BTC, BCH, ZEC||4.500EH/s||PROP, PPLNS|
- Hash rate: 16,793.12 PH/s
- Share: 17.74%
Poolin lets the user mine Bitcoin, Bitcoin Cash, Bitcoin SV, Litecoin, Decred, Dash, ZCash, Monero and Electroneum on ASICs and graphics processors from Nvidia and AMD. It supports several reward systems including PPS, FPPS and PPLNS. The payments are made once a day at 12am (UTC+2). Minimum withdrawal amount depends on the cryptocurrency.
Although Poolin is a young project, it has quickly become one of the top 10 BTC mining sites as it not only supports a wide range of cryptocurrencies and payment methods, but also has such cool features as:
- mining profitability calculator;
- personal account available on Android and IOS (the application displays network hash rate and provides access to the mining profitability calculator);
- moderate transaction commission (1.07%);
- an internal PIN token, which serves as proof of participation in the Poolin community.
- Hash rate: 12,667.01 PH/s
- Share: 13.39%
F2pool was the first Chinese project of its kind. Currently, it is the best crypto mining tool in terms of the number of supported currencies. Initially, they only focused on Bitcoin, but then ETH was introduced in 2015, and by 2019, they added a wide variety of other coins.
In 2018, F2Pool fell behind the competition as their hash rates grew, but it’s still one of the best Bitcoin mining sites in China and around the world. The website supports both English and Spanish. The current transaction fee is 1.36%.
So, what’s so special about this platform? F2Pool is a decentralized platform, which makes it more trustworthy for the client. The platform’s reputation has never been tarnished. Both Android and iOS apps are available for personal account management.
Simplicity and reliability – that’s what miners value F2Pool for.
- Hash rate: 9,468.53 PH/s
- Share: 10.24%
The AntPool project was established in February 2014. The creator, Bitmain Technology, manufactured ASIC devices that needed to be tested. So, this is why the company launched its own mining pool. The project turned out to be successful and met the expectations of both developers and users.
Already in the middle of 2014 the project became one of Bitcoin mining leaders. In May 2016, Antpool management announced support for Ethereum and Litecoin. Later in the same year, Ethereum Classic, Zcash and DASH were also introduced. In August 2018, AntPool announced the transition to SegWit2X protocol.
Aside from offering group mining, Antpool also supports the cloud mining feature in solo mode. The platform and their customer service are both available in different languages.
The funds can be withdrawn daily, and the commission is minimal. The only condition for the withdrawal is the presence of a new block. There are three payment methods available:
- Pay Per Share (PPS) – payment on receiving the share. Miners receive rewards only when they provide proof of work;
- Pay Per Last N Shares (PPLNS) – rewards are awarded for a certain number of points sent by the miner in case the block is in the pool. There are no commissions in this case;
- Solo – the entire reward for the found hash goes to one miner. The commission is 1%.
- Hash rate: 5,918.94 PH/s
- Share: 6.26%
Huobi Pool is a multi-currency pool that was founded in 2018 on the basis of the Huobi Global cryptocurrency exchange. The first cryptocurrency supported by the site was Bitcoin, and, later, the platform introduced mining of BCH, ETH, ETC, LTC and DCR, as well as GRIN, SC and TRTL. The main advantage of Huobi Pool is the support of PoW mining in combination with DPoS voting modes for EOS. The pool became the world’s largest EOS voting platform.
Huobi Pool is positioned as a multi-purpose and multi-currency mining platform. It supports FPPS model rewards for BTC and ETH, as well as the PPS model for other cryptocurrencies. When it comes to EOS Super Community, this service provides users with professional DPoS voting in the EOS cryptocurrency network. At the time of writing this article, the transaction fee was as low as 0.78 %.
- Hash rate: 5,904.44 PH/s
- Share: 6.25%
ViaBTC is a large mining pool that provides cloud mining of popular cryptocurrencies. The pool’s competitive advantage is their paid “transaction acceleration” service that increases the priority of BTC transactions. The so-called AsicBoost function makes BTC and BCH mining more cost-effective.
When the cloud mining service was first launched on the site in October 2016, only BTC was supported. And then from August 2017 to February 2018, the developers also launched BCH, DASH, ZEC, ETH, ETC and XMR mining.
Aside from group mining, ViaBTC also has cloud mining in solo mode. The website is available in Chinese, English, Korean, Japanese and Russian languages. The application on Android and iOS allows monitoring hash rate and profit. In addition, there is also an online Mining Profit Calculator.
ViaBTC supports three payment options:
- Pay Per Share + (PPS) – payment upon receipt of the share. Miners receive remuneration only when they provide proof of work. The commission is 4% for the block and 2% for the transaction;
- Pay Per Last N Shares (PPLNS) – the reward is awarded for a certain number of points sent by the miner if the block is in the pool. Commission is 2%;
- Solo – the reward goes to one miner, commission is 1%.
- Hash rate: 4,609.28 PH/s
- Share: 4.88%
When BTC.TOP was officially launched in December 2016, it was a Bitcoin mining site for the Chinese domestic market only. Users could not register – the project was considered a closed pool. At the end of 2017 new user registration was introduced, and the platform spiked in popularity, breaking into the top 3 best BTC mining pools in China.
What made it so big?
- Firstly, the developers managed to increase hash rate in solo mode;
- Secondly, withdrawal commission was less than 12%, which is low compared to the average fees on Chinese platforms. The current transaction fee is 0.98 %.
Want to join the BTC.TOP community? Consider this first: the only language the website supports is Chinese, and GPU mining isn’t available – this project was created for ASIC owners.
- Hash rate: 3,092.44 PH/s
- Share: 3.4%
Bitfury Group Limited was established in 2011 by a Latvian businessman Valerii Vavilov. Initially, the company focused on Bitcoin mining on CPU and GPU. Later, they introduced mining on ASIC equipment. In 2013, the developers released their first mining chip, which was manufactured using 55-nanometer technology. Its production was set up later. By mid-2017, the mining pool controlled 9%-10% of BTC’s computing power.
This is one of the largest non-Chinese mining pools. It needs to be noted, however, that Bitfury is a closed pool – it’s not easy to become a member. Additionally, the project centrally uses their own equipment, which is produced under the company’s brand name. Software for this equipment is also developed by Bitfury’s programmers: it allows mining ETH, BCH or LTC. The current transaction fee is 1.05%.
- Hash rate: 516.3 PH/s
- Share: Unknown
Bitcoin.com is one of the major BTC and BCH mining sites: it provides both cloud and hardware mining services. The project was developed by Saint Bitts LLC, which was founded by Roger Ver.
What are the advantages of the Bitcoin.com pool?
- It is a simple online service that features a user-friendly interface.
- Although the platform supports only Bitcoin and Bitcoin Cash, it remains the largest mining pool for BCH and is one of the top mining pools for BTC.
- PPS and PPLNS reward systems are supported.
- The site’s services include cloud mining and automatic extraction of the most profitable coin. For cloud mining, users need to choose the amount of computing power offered and pay for equipment rent.
- The site’s servers and mining equipment are located in the USA.
- Everything is official. You can only use the service after signing a digital contract. The contract is terminated automatically if the total revenue for the last 30 days is less than the total daily fee for the same period.
9. Slush Pool
- Hash rate: 3.54 EH/s
- Share: 3.9%
The platform was introduced on November 27, 2010 by Satoshi Labs. In the summer of 2017, the site became the leader in Bitcoin mining. After the BTC fork, BCH appeared, and Antpool shifted part of its capacity to Bitcoin Cash, which led to SlushPool’s leadership. In 2017, the pool introduced a fixed commission of 2%. In 2018 SlushPool ranked third for the share of production of the first cryptocurrency.
The pool features a hybrid reward system, a combination of PPLNS and PROP:
- Pay Per Last N Shares (PPLNS) – the award is given based on the number of balls sent by the miner in the case of finding the block by the pool;
- Proportional (PROP) – the reward is calculated proportionally to the contribution of each pool member to the mining process.
The Chinese competition with low commissions has additional fees that the user learns about during the withdrawal process. SlushPool’s management has eliminated those by setting a 2% fixed withdrawal fee. They use the Score method to calculate fees, which does not allow participants to connect to other mining pools. Developers also introduced automatic withdrawal, but it is only available if the threshold value is reached.
10. BTCC Mining Pool
Hash rate: 0 PH/C
Our list of top BTC mining sites wouldn’t be complete without BTCC. BTCC mining pool was a large Chinese pool that existed from 2014 to 2018. In the second half of 2017, the service reached 1,824 blocks. Over the entire span of the project, about 16,959 blocks were found. The fee for the block remuneration transaction was 29.01%. The total commission for the block was within the range of 3.62646173, which is average.
Solo mining is expensive and not always cost-efficient, so you can achieve better results by joining forces with peers. We hope our Bitcoin mining pool overview can help you make an informed decision and increase your crypto riches.