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Now you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are bands of cooperating miners who agree to share block benefits in proportion to their contributed mining hash power. While mining pools are desirable to the average miner as they smooth out benefits and also make them more predictable, they unfortunately concentrate power to the mining pools owner.

Pool Concentration in China Before we get into the best mining pools to join, its important to note that many mining pools are located in China. Many only have Chinese websites and support. Mining centralization in China is one of Bitcoins biggest problems at the moment. There are about 20 big mining pools.

This is based on info from Blockchains pool share graph: We strongly recommend new miners to join Slush Pool despite it not being one of the greatest pools. It was the first Bitcoin mining pool and remains one of the most dependable and trusted pools, especially for beginners. 1. BTC.com BTC.com is a community mining pool that can be joined.

2. Antpool Antpool is a mining pool based in China and owned by BitMain. Antpool mines about 25 percent of all cubes. 3. ViaBTC ViaBTC is a somewhat new mining pool which has been around for approximately one year. Its targeted towards Chinese miners. Slush was the initial mining pool and currently mines about 3% of blocks.

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DiscusFish, also known as F2Pool, is located in China. F2Pool has mined about 5-6percent of all blocks over the previous six months. 6. BTC.top BTC.top is a private pool and cannot be joined. 7. Bitclub.Network Bitclub Network is a large mining pool but appears to be somewhat shady. We recommend staying away from this pool.

BTCC BTCC is a pool and also Chinas third biggest Bitcoin exchange. Its mining pool currently mines roughly 7% of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines roughly 2% of all blocks. BW, based in Recommended Reading 2014, is another mining company based in China.

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0percent YesBTCCChina2-3%NoSlush PoolCzech Republic2percent NoAntpoolChina1%NoBWChina1percent No The comparison graph above is only a fast reference. The location of a pool does not matter that much. The majority of the pools have servers in each country so even if the mining pool is located in China, you could connect to a server in the US, for instance.

Mining Pools vs Cloud Mining Many people read about mining pools and think it's merely a group that overlooks free bitcoins. This is not true! Mining pools are for people who have mining equipment to split profits. Many people get mining pools confused with cloud mining. Cloud mining is where you pay a service supplier to miner for you and you receive the benefits.

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Buying bitcoins is the EASIEST and FASTEST this hyperlink way to purchase bitcoins. Get $10 worth of free bitcoins when you purchase $100 or more in Coinbase. Which Countries Mine the most Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. As Bitcoin mining is somewhat centralized, 10-15 mining companies have maintained the vast majority of network hash power.

China China mines the very bitcoins and therefore ends up exporting the many bitcoins. Electricity in China is very economical and has allowed Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash power. Its supposed that some Chinese power companies point their surplus energy towards Bitcoin mining facilities in order that no energy goes to waste.

Its estimated these mining pools own somewhere around 60% of Bitcoins hash power, meaning they mine about 60% of all new bitcoins. Georgia Georgia is home to BitFury, one of the largest producers of Bitcoin mining hardware and processors. BitFury currently mines about 15% of all bitcoins. Sweden Sweden is home to KnCMiner, a Bitcoin mining company based in Stockholm.

US The US is home to 21 Inc., a Bitcoin mining company based in California. 21 runs a massive amount of miners, but also sells low powered bitcoin miners as part of their 21 Bitcoin computer. Most of the hash electricity in the 21 Bitcoin computers is pointed towards 21s mining pool.

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Mines about 3% of bitcoins. Other Countries The countries above mine about 80 percent of all bitcoins. The remaining part of the hash electricity is spread across the remainder of the planet, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US). What's a mining poolGet that a Bitcoin Wallet and Mining SoftwareThe Biggest Mining PoolsBest Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the maximum BitcoinsOther CountriesA Note on PoolsWhy are Miners ImportantAntpool ReviewBitfury InformationBTCC Mining Pool official website ReviewSlush Pool Review A Note on Pools While we can view which mining pools would be the greatest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool itself.

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