A recent analysis of Bitcoin mining activity reveals that two industry giants, Foundry USA and Antpool, have taken a firm grip on the network’s hashrate, together commanding a staggering 56.7% of the total computing power.
This dominance has been particularly evident in the past 72 hours, during which the two pools seized over half of all newly mined blocks. This control was further amplified by a recent fee spike, which filled blocks with unusually high transaction fees, leading to increased profitability for these major players.
Foundry has displayed a remarkable surge in hashrate since the beginning of 2024, increasing its output by roughly 75 exahash per second (EH/s). Its current three-day average hovers around 215.79 EH/s, with a seven-day average of 199.02 EH/s. Antpool, although experiencing steadier growth from its starting point of 147.40 EH/s in January, maintains a solid second position.
Historically, Antpool leads the lifetime block discovery count, having mined an impressive 89,726 blocks. While Foundry, with 41,987 blocks to its name, still has some ground to cover, its rapid ascent through the ranks in recent times cannot be ignored.
The combined dominance of Foundry and Antpool underscores a trend toward centralization in the Bitcoin mining industry. This has sparked debate about the implications for network security and decentralization, crucial aspects of Bitcoin’s design and philosophy.
