Last year, Bitcoin’s total network hashrate was around 160 exahash per second (EH/s), and 15 known mining pools dedicated hashrate to Bitcoin on Nov. 6, 2021. At that time, the mining pool Foundry USA was the fifth largest mining pool with 18.44 EH/s dedicated to the Bitcoin chain. During the last 12 months, Foundry has managed to increase the pool’s hashrate by more than 350% climbing to 84.34 EH/s on Nov. 6, 2022.
After 12 Months, Foundry USA’s Hashrate Muscles Its Way Into the Top Bitcoin Mining Pool Position
The bitcoin mining pool Foundry USA has been a force to be reckoned with during the last 12 months. The mining operation Foundry USA is owned and operated by Foundry, a mining, staking, and consulting firm based in Rochester, New York. The company was created by Digital Currency Group (DCG) and it was founded in 2019, according to a press release announcing the mining arm on Aug. 27, 2020.
Statistics from the web portal btc.com show the earliest recorded sighting of Foundry, at least according to saved archive.org snapshots, was on Feb. 14, 2021. However, a report published by Cointelegraph on Jan. 26, 2021, indicates Foundry was positioned in the top ten mining pool standings. The report shows Foundry was dedicating 2.74 EH/s to the BTC chain and controlled 1.85% of the 147 EH/s total.
The archived snapshot on Feb. 14, 2021, shows Foundry’s hashrate equated to 1.13% of the global aggregate or 1.78 EH/s. On that day, Foundry held the 15th largest position worldwide during a three-day span out of 19 known mining pools. Out of 444 blocks mined in a three-day span, Foundry discovered five blocks. 12 months ago, Foundry held the fifth largest position in terms of total hashrate with around 11.51% of the network and 18.44 EH/s on Nov. 6, 2021.
During a three-day span, Foundry’s pool discovered 51 BTC block rewards out of 443 rewards found. The pool has seen enormous growth during the last 12 months as Foundry’s hashrate has increased by 357.37% since then compared to stats recorded today. Records show on Nov. 6, 2022, Foundry’s hashrate is around 84.34 EH/s after it discovered 130 blocks out of 415 blocks mined in a three-day span. The three-day statistics indicate that Foundry’s percentage of hashrate out of the aggregate is roughly 31.33%.
Year-long data recorded on Oct. 15, 2021, also shows 52,258 BTC blocks were mined in a 12-month span. F2pool was the top mining pool at the time, according to the archive.org snapshot, as it discovered 8,187 of the 52,258 bitcoin blocks found. Foundry, on the other hand, managed to discover 1,978 blocks out of the 52K which represents around 3.79% of the total hashrate recorded on Oct. 15, 2021. Year-long data on Nov. 6, 2022 indicates that 53,495 blocks were mined in 12 months.
Foundry USA managed to capture 11,109 blocks since Nov. 6, 2022, which equates to 20.77% of the aggregate hashrate during a 12-month span. Other top mining pools during the last 12 months include Antpool, F2pool, Binance Pool, and Viabtc, respectively. While Foundry’s block percentage has been huge this year, out of all-time statistics the pool’s number of blocks found equates to 1.77% or 13,462 blocks found out of the total 762,026 BTC blocks mined by Nov. 6, 2022, at 4:30 p.m. (ET).
All-time statistics show that unknown miners, otherwise known as stealth miners, have found the most blocks with 226,055 blocks found. Out of the 98 known mining pools that have been mining on the blockchain since known pools were recorded, F2pool reigns champ with the most BTC blocks found. F2pool has managed to snag 74,545 BTC blocks out of the 762K found as of today. F2pool is followed by Antpool, Btc.com, Braiins Pool (formally known as Slush pool), and the now-defunct Btc Guild.
What do you think about Foundry climbing to the top position in terms of bitcoin mining pools with the most hashrate this year? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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