Bitcoin’s price has fallen by more than 22% against the U.S. dollar over the past 30 days, but Bitcoin’s hash rate has remained above 200 exahash per second (EH/s) during this period. While 16 known mining pools mined the leading crypto asset last month, the top five mining pools retained 71.4% of the global hash rate.
Of the 16 mining pools, the top five got most of the Bitcoin blocks discovered last month
May is over with 4,276 Bitcoin (BTC) block rewards discovered in the past 30 days. Of the 4,276 block rewards discovered, 26,725 newly minted bitcoins were born into the system. While the network’s hash rate has consistently been above the 200 EH/s region, on May 2, 2022, Bitcoin’s hash rate hit an all-time high at block height 734,577. On the day it reached 275.01 EH/s, according to coinwarz.com.
Statistics show that 16 known Bitcoin mining pools have mined BTC in the past 30 days, while stealth miners (also known as “unknowns”) captured about 1.03% of the hash rate in the last month. Unknown miners mined about 44 of the 4,276 block rewards found, earning 275 newly minted bitcoins. The data further revealed that the top five Bitcoin (BTC) mining pools accounted for 71.4% of the global hash rate last month.
Foundry USA received the most block rewards last month as the pool accounted for 21.02% of the global hash rate. Foundry received 899 BTC block rewards out of 4,276 rewards and was able to earn 5,618.75 newly minted Bitcoins. Among the top five Bitcoin mining pools by size, Foundry is followed by Antpool (14.27%), F2pool (14.27%), Binance Pool (10.87%) and Poolin (10.85%). All five of the aforementioned mining pools accounted for nearly three-quarters of the global hash rate recorded last month.
A few factors that could change the hash rate distribution are approaching, one of which is the price of BTC. The market cycle appears to be in bear mode, and a drop in BTC’s value could shake smaller mining pools. In 700 days, the halving is also happening, which means that mined blocks will pay 3.125 coins per block instead of 6.25 BTC per block today.
Finally, in July, bitcoin miner manufacturers Bitmain and Microbt will release two new models with output between 126 terahertz per second (TH/s) and 140 terahertz/second. These two new models generate higher hash rates per second than most machines today, and mining pools that have access to them will benefit.
What do you think of Bitcoin’s current hash rate distribution? Let us know what you think about this topic in the comments section below.
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