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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 November 6, 2021. At that time, the Foundry USA mining pool was the fifth largest mining pool with 18.44 EH/s dedicated to Bitcoin- the chain. Over the past 12 months, Foundry has managed to increase its pool hashrate by more than 350%, climbing to 84.34 EH/s on November 6, 2022.
Bitcoin mining pool Foundry USA has been a force to be reckoned with over the past 12 months. Foundry USA mining 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 was founded in 2019, according to a press release announcing the mining arm on August 27, 2020.
Statistics from the web portal btc.com show that the earliest recorded sighting of Foundry, at least according to stored archive.org snapshots, was on February 14, 2021. However, a report published by Cointelegraph on January 26, 2021 indicates that Foundry was placed in the top ten mining pool locations. The report shows that Foundry dedicated 2.74 EH/s to the BTC chain and controlled 1.85% of a total of 147 EH/s.
The archived snapshot on February 14, 2021 shows Foundry’s hashrate equal to 1.13% of the global aggregate or 1.78 EH/s. On that day, Foundry held the 15th largest position globally over a three-day span of 19 known mining pools. Out of 444 blocks mined over three days, 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 November 6, 2021.
Within three days, Foundry’s pool discovered 51 BTC block rewards out of 443 rewards found. The pool has seen tremendous growth over the past 12 months as Foundry’s hashrate has increased by 357.37% since then compared to statistics recorded today. On November 6, 2022, records show that Foundry’s hashrate is around 84.34 EH/s after it discovered 130 blocks out of 415 blocks mined in three days. The three-day statistics indicate that Foundry’s percentage hashrate of the aggregate is about 31.33%.
Year-long data recorded on October 15, 2021 also shows that 52,258 BTC blocks were mined in 12 months. F2pool was the top mining pool at the time, according to the archive.org snapshot, when it discovered 8,187 of the 52,258 bitcoin blocks found. Foundry, on the other hand, managed to discover 1,978 blocks out of 52K representing around 3.79% of the total hashrate recorded on October 15, 2021. Year-long data as of November 6, 2022 indicates that 53,495 blocks were mined in 12 months.
Foundry USA managed to capture 11,109 blocks since November 6, 2022, which equates to 20.77% of the overall hashrate over a 12-month period. Other top mining pools in the last 12 months include Antpool, F2pool, Binance Pool and Viabtc respectively. While Foundry’s block percentage has been huge this year, the pool’s number of blocks found equals 1.77% or 13,462 blocks found out of a total of 762,026 BTC blocks mined by November 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. Of the 98 known mining pools that have mined on the blockchain since known pools were registered, F2pool reigns supreme with the most BTC blocks found. F2pool has managed to capture 74,545 BTC blocks out of 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 spot of bitcoin mining pools with the highest hash rate this year? Let us know what you think about this topic in the comments section below.
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