The Bitcoin network sees a huge shift in the mining pool after the halving

After the third bitcoin halving on May 11, 2020, there has been a big shift in the distribution of mining pools, as far as hashrate is concerned. At the time of publication, there are around 100-115 exahash per second (EH / s) looking for blocks of bitcoin, and viewers have seen two relatively unknown mining pools join the mining pool’s top contenders. Both of these new mining pools acquire around 14 EH / s today, and core operations F2pool and BTC.com have around 34 EH / s between both pools.

BTC’s latest halving saw a small amount of different network activity, and every single mining operation lost 50% of revenue after the halving. After the revenue cut, a tiny fraction of hashrate remained and BTC (txn) transaction fees increased. Over the past 48 hours, a single BTC txn can cost a user between $ 2-4 depending on network congestion.

Another obvious sight is the occurrence of extremely fewer stealth hashes (unknown miners) than weeks ago and two relatively new mining operations. The two mining pools called 1Thash and Lubian.com have earned a lot of hashrate from the halving and since then both operations have captured around 14 EH / s.

1Thash has been known for some time, but the pool had much less hashpower than it does today, as it captures 7.6% of the overall hashrate on May 14, 2020. Hashrate distribution statistics show that the Lubian. com mined its first coins at block height 627,441. Similar to 1Thash, the trade also has 7.6% of today’s SHA256 hashrate on the BTC chain and both control the fifth and sixth largest hashrate distribution position.

According to regional journalist Lylian Teng of 8btc, Lubian’s name means “road” and the website claims to be the “safest high-performance mining pool”. Teng also said local Chinese news outlet Blockbeats was the first to spot Lubian’s hashing on the BTC chain and provided information to Btc.com for distribution statistics.

Blockchain.com pool statistics still say “unknown” for Lubian’s location, but Btc.com statistics recorded both Lubian and 1Thash. If the Btc.com pool stats are correct, that would mean that there is very little unknown hash mining the BTC chain today. The data indicates that there are 15 known mining pools since the halving is still eliminated. Pools include Btc.com, F2pool, Antpool, Poolin, 1Thash, Lubian, Viabtc, Huobi, Okex, Slush, Nova, Binance, Bitcoin.com, Spider, and Ukrpool.

F2pool also recently commanded the second largest mining pool position for SHA256 hashpower in the race. The Chinese mining operation was also lucky enough to get the latest 12.5 BTC block reward before the halving. Engraved in the Coinbase message F2pool wrote:

NYTimes Apr 09, 2020 With $ 2.3T of injection, the Fed’s plan far surpasses the 2008 bailout.

Since then, news.Bitcoin.com has reported how the total value of block rewards and commissions fell from $ 17.16 million on May 12 to $ 8.95 million the next day. So far, on Thursday three days after the halving, the price of BTC has risen to $ 9,900. However, at that point, the value corrected a bit and the price has hovered in the $ 9,500 to $ 9,750 zone ever since.

What do you think about the change in hashrate distribution since the reward halved? Let us know in the comments below.

Image credits: Shutterstock, Pixabay, Wiki Commons, btc.com/stats/pool