Weekly Bitcoin Mining Overview: Healthy Hashrate, Poolin is Gaining, Slushpool’s Empty Blocks

CryptoMode Bitcoin Mining Illustration Poolin Crypto Mining Hashrate

Keeping close tabs on the Bitcoin mining pool ecosystem will offer surprising insights. A lot of changes are afoot in this regard, primarily in terms of the overall rankings .

A Healthy Network Mining Hashrate

The most important statistic comes in the form of the overall Bitcoin mining hashrate. Despite some people’s concerns regarding the halving’s impact on mining, everything seems to be running smoothly. The network still notes an overall average hashrate of 124.88 exohash per second. 

CryptoMode Bitcoin Mining Hashrate

Not only does this show that Bitcoin mining is relevant, it also shows that miners are making good money. This is reflected by looking at the overall mining pool hashrate distribution. 

CryptoMode Top Bitcoin Mining Pools

F2Pool still holds the lead, with 14.7% of the hashrate share, Remaining ahead of Poolin may be challenging, as the gap has tightened significantly. BTC.com, Antpool, and Huobi,pool are all found in the top 5. Every single of these mining pools notes an average hashrate of 10.97 exohash/second or more

Playing the Empty Block Game

One remarkable statistic is how there are still Bitcoin mining pools creating empty blocks. Doing so is not “wrong” per se, but it raises some questions. An empty block only contains a coinbase transaction, but no other network transfers or miner revenue. 

CryptoMode SlushPool Empty Blocks

Slushpool remains the main creator of empty blocks, with 3.85% in the past week. This is well ahead of BTC.com with 1.5%, and 58COIN&T1Hash at 1.16%. F2Pool is, despite being the top pool for the week, creating empto blocks at a 0.54% weekly rate. 

TX Fees per Block Comparison

It is interesting to see how Bitcoin miners generate extra revenue. Transaction fees created by the network play a crucial role in this regard.  Although recent research confirms that mining revenue from fees is on the decrease, it is still a crucial part of every block.

Looking over the average TX fees per block, an interesting trend becomes apparent. F2Pool notes an average of 0.2913 BTC in transaction fees, This is slightly higher than the average for the week, which sits at 0.2674 BTC. It will be very interesting to see how these figures evolve in the near future. 

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