Mining Squared, a prominent Bitcoin mining pool, has achieved a significant milestone by entering the global top 10 mining pools after joining Nubit’s Bitcoin Thunderbolt network. The pool reported an impressive hashrate of 16.97 EH/s, representing 2.08% of Bitcoin’s total network hashrate, according to data from mempool.space.
Mining Squared’s Rapid Ascent in Bitcoin Mining
This development comes at a crucial time for Bitcoin mining, as institutional interest in Bitcoin continues to grow. The pool’s integration with Bitcoin Thunderbolt marks a significant step in expanding its operational capacity and network influence.
Technical Analysis of Mining Squared’s Performance
- Current Hashrate: 16.97 EH/s
- Network Share: 2.08% of total Bitcoin hashrate
- Global Ranking: 8th position
Impact on Bitcoin Mining Landscape
The partnership between Mining Squared and Nubit’s Bitcoin Thunderbolt represents a significant shift in the mining pool landscape. This collaboration could potentially influence hash rate distribution and mining decentralization efforts across the network.
Frequently Asked Questions
What is Mining Squared’s current network contribution?
Mining Squared contributes 16.97 EH/s to the Bitcoin network, representing 2.08% of the total hashrate.
How does this affect Bitcoin mining decentralization?
The emergence of new major players like Mining Squared helps distribute mining power across more entities, potentially improving network decentralization.
What is Bitcoin Thunderbolt?
Bitcoin Thunderbolt is Nubit’s mining network solution that helps optimize mining operations and improve efficiency for participating pools.