For the first time a US Bitcoin mining pool is the most powerful of all

For the first time a US Bitcoin mining pool is the most powerful of all

Foundry USA Pool, a Bitcoin mining pool located in the United States, ranked first among the pools with the highest hash rate on this network. It is the first time that a North American pool surpasses those of China in this area.

Traditionally, the list of Bitcoin mining pools according to their hash rate has been led by AntPool and F2Pool, both from China. However, this changed when Foundry USA Pool surpassed 17% of Bitcoin’s global mining power.

As can be seen in the graph above, the Bitcoin mining pool, Foundry USA, has an advantage of less than 1% against the largest pool in China, AntPool, and just over 5% against F2Pool. Nevertheless, if the weekly average hash rate is taken into account, AntPool continues to lead the table, albeit by very little.

For the first time a US Bitcoin mining pool is the most powerful of all
The average hash rate for the last 72 hours shows that Foundry USA Pool is generating 17.17% of the global Bitcoin hashrate. Source: BTC.com.

According to the network statistics displayed by the website Braiins Mining As of this writing, both Foundry USA and AntPool averaged 16.55% of Bitcoin’s global mining power in the last 24 hours.

How did the United States come to have the most powerful Bitcoin mining pool?

The short answer to this question is: thank you China. Now, to better contextualize said response, it is important to clarify that it was the Chinese Government that decided to veto the use of Bitcoin and all activity related to cryptocurrencies not authorized by them in its territory.

The restrictive measures forced many miners to suspend their functions indefinitely or to emigrate, to try to start their machines in other countries.

The United States was one of the options that several Chinese mining companies chose to remain active. A timely decision, given the rise that Bitcoin experienced in the cryptocurrency market. Which, as usual, implies an injection of a lot of money in this market and a general increase in the assets that are traded in it.

CriptoNoticias reported in mid-October this year that The United States was already the country that provided the most mining power on the Bitcoin network. At that time, the North American nation had 35.4% of the global hash rate of the network in question, according to a study published by the Cambridge Center for Alternative Finance (CCAF, for its acronym in English).

China’s pools had already been dethroned previously

It is not the first time that a mining pool outside of China has topped the list of miners with the highest hash rate in Bitcoin; only last time it was not a pool from the United States, but from the Netherlands.

GHash.io, a Bitcoin mining pool founded by cryptocurrency exchange CEX.io, came to have a hash rate greater than 51% globally in July 2014. This situation caused quite a stir in the bitcoiner community, as such mining power gave this pool enough power to “control Bitcoin”, so to speak.

GHash.io, to prevent the controversy from continuing and making a dent in the reliability of the Bitcoin network, decided to disband and its miners each took their way to other pools active at the time. There is no record that GHash.io ever used its existing hash rate to attack Bitcoin.

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