You know that Bitcoin is making news all around the globe, but what most people don’t understand is who is actually making money off of Bitcoin mining? Although this may not be something you’ve thought about very much, understanding who is mining the most Bitcoins is vital to understanding the way that the Bitcoin network works. Only a few mining companies control the majority of the Bitcoin network; you either already know them all, or you don’t know any. This write-up will help you to be a bit more Bitcoin-conscious.
If you love both math and wealth, and you also love computers, Bitcoin mining might just be the right hobby for you. After all, the combination of computing-power and energy-guzzling business could earn you a lot of cash. Through mining, you may be able to accumulate some of the best digital currencies that could probably fetch you billions of dollars in a short run of, say, just one year.
Yes, that’s correct. It might sound somewhat weird if you have never heard of the Bitcoin-mining superpowers, but evidence suggests that one of the entities mentioned here just managed to make about USD 2.5 billion in the last year (2017).
But wait! Don’t run to the ASIC shop just yet. While the economy around these ultra-computing firms is red-hot, we suggest that you consider some of the hottest Bitcoin mining pools if you really want to be a rising star in the Bitcoin industry.
Here are they.
1. BitMain / Antpool
Founded by Jihan Wu and Micree Zhan in 2013, Antpool (run by Bitmain Technologies Ltd.) is probably the largest private Bitcoin-mining firm in the world. Wu was the first person to translate Satoshi Nakamoto’s Bitcoin white paper into Chinese.
The firm now also produces Application Specific Integrated Circuits (ASICs) and is considered one of the richest Bitcoin-mining firms in the world. The firm generated an estimated $2.5 billion in revenue in 2017. Antpool was funded by Sequoia Capital and IDG in September 2017, and as far as reports reveal, the firm is preparing for an IPO in 2018.
F2Pool, the Bitcoin (BTC) and Ethereum (EOS) mining pool, is also based in China. Originally known as DiscusFish, F2Poolaccounts for 25% of the Ethereum network’s hash power (computing power). F2Pool purchased around 215,000 EOS in 2017, a purchase brought their total EOS holdings to 227,077 or $3.13 million. This is the 2nd-largest single holding of EOS in the world.
While Ethereum is the main cryptocurrency that F2Pool mines, it is also the 6th largest Bitcoin mining pool in the world. The firm has launched an AION network pool to allow public and private sectors to utilize the Blockchain network and perform critical functions.
F2Pool has offices in the United States, Canada, Singapore, Russia and other countries around the world, and is considered a trailblazer in crypto mining.
BTCC was founded in 2011 and is the firm behind the BTCC Pool mining pool, the consumer wallet Mobi, and a cryptocurrency exchange called the BTCC Exchange. BTCC Exchange was recently re-launched after China lifted its ban on cryptocurrency exchanges. With a diverse portfolio of products and services, BTCC is a leading player in the digital currency ecosystem of the world.
Headquartered in Hong Kong, BTCC offers products and services in security, risk mitigation, credibility, and technological innovation domains for the crypto industry. BTCC’s mission is to provide the world with the most convenient and trustworthy digital currency services.
As far as the latest value of BTCC mining pool is concerned, it recently collected about $19 million in funding for a 49% stake in its shares from a Hong-Kong financial firm.
Elgius is a Bitcoin mining pool based in the United States. Is immediate share-sharing, no fees, no registration, and no-nonsense attitude means that Elgius helps miners to share the path to grow richer, be bigger and earn heavier. It’s a smarter way to serve Elgius.
According to recent rumours, Eligius is developing a share market for miners. The share market will act as a platform for miners sell their shares to either other miners or general buyers. All transactions on the share market will be public and will be cryptographically verifiable.
5. Slush Pool
Under the name Bitcoin Pooled Mining Server, Slush Pool was the first publicly available mining pool. It began operating in 2010. The usually kind and soft-hearted Slush is known to allow its users to mine both Bitcoin and Zcash.
Among Slush’s most notable achievements , it has mined more than 1,000,000 BTC since its creation. In other words, 1 Bitcoin equals 6,564.66 United States Dollar as of 5th July 2018.
In something unique in the entire crypto industry, Slush Pool shares the transaction fees earned with all miners who are part of it.
CINDX is an investment platform that allows individuals to combine several crypto exchange accounts into one trading terminal, and gives them the option to connect to the best managers without having to transfer their funds. Moreover, implementation of blockchain-based transactions will allow the trading history to be saved, and a rating system will be used to differentiate the successful managers from the less successful ones.