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Insights › Mining Pools › Pool Review › 29 May - 31 Oct 2026

2 Nov 2026 (next exp 15 Nov)

Mining Pools Review · All pools

Concentration or decentralisation? Bitcoin mining pools, 29 May - 31 Oct 2026: top pools grow, SBI Crypto, Binance Pool and Ultimus Pool exit, proxies counted in; still to come: Stratum V2, DATUM and solo

covering 29 May - 31 Oct 2026 · published 2 Nov 2026 · next release expected 15 Nov 2026 (15th and 30th of each month)

  • Coverage. This edition extends BMM's initiation of coverage of 19 October from the 5 largest pools to every pool that identifies itself in the blocks it finds, over the same period from block 951,552 on 29 May, now to 31 October. Network hashrate (BMM node, 7-day estimate) went from 1,019.4 EH/s on 29 May to 1,068.6 EH/s on 31 October (+4.8%), with a low of 853.1 EH/s on 9 June and a high of 1,088.0 EH/s on 27 October.
  • Gainers and losers. F2Pool added the most, +38.1 EH/s, ahead of AntPool (+30.1) and Luxor (+27.7). SpiderPool lost 42.1 EH/s and ended at 4.68% of the network; Foundry USA stayed the largest pool but ended below its 29 May level (−15.2 EH/s).
  • Concentration. The 3 largest pools found 63.3% of blocks in the last full epoch (from 16 October), up from 56.6% in the first (from 29 May). The BMMAA Pool Concentration Risk shows concentration rising clearly in 3 of 10 steps between epochs and falling clearly in 3; the latest daily reading is +0.27 (Neutral).
  • Exits. SBI Crypto found its last block on 29 July. Binance Pool fell from 16.8 EH/s to 7.5 EH/s in the two weeks before announcing its closure on 13 October and stops on 10 November. Ultimus Pool found its last block on 25 September.
  • Proxy pools. Pools declaring about 125 EH/s on miningpoolstats find no blocks under their own name. Several of these pools serve miners in Russia/CIS and Kazakhstan.
  • OCEAN fell from 27.9 EH/s in the month before BIP-110 to 15.8 EH/s after it, and was back at 24.5 EH/s in October.
  • Developments. Foundry USA's founding CEO steps down; Tether's MDK gains 15 backers, six of them pools; f2pool.kz closes on 21 November. Still to come in later editions: Stratum V2, DATUM and solo mining.

Top 5 < ≠ > All pools

The initiation of coverage on 19 October set a baseline for the 5 largest pools by blocks found on BMM's own node. This edition covers the same period, from block 951,552 on 29 May, now to 31 October, and names every pool that BMM can identify: from the node's pool identification and, new in this edition, from BMM's own reading of the coinbase text of every block. Together they name between 97.8% and 99.6% of blocks in each month.

Pools that find no blocks under their own name are listed separately below. Coverage will deepen as BMM extends its block-level data across the full year.

Gainers and losers

Pool29 May
EH/s
31 Oct
EH/s
Change
EH/s
% of network
31 Oct
Top 3 gainers
F2Pool132.2170.3+38.115.94%
AntPool187.0217.2+30.120.32%
Luxor29.457.1+27.75.34%
Top 3 losers
SpiderPool92.150.0−42.14.68%
Foundry USA298.7283.5−15.226.53%
Ultimus Pool*3.90.0−3.90.00%
Closures
SBI Crypto25.50.0−25.50.00%
Binance Pool17.67.1−10.50.67%

* Ultimus Pool is expected to have been a proxy of Binance Pool; see Key developments. Ranking excludes the "Solo, no tag, other" group. Change = 31 October minus 29 May, EH/s, 7-day basis.

Top 5 pools: 29 May - 31 Oct

To read the graph: estimated hashrate, EH/s, 7-day basis. Upper band: network hashrate (axis cut between pools and network; right scale = change since start). Shaded columns alternate by difficulty epoch. Click a pool name to hide or show it; hover for values and share of blocks.

8009001,0001,100050100150200250300-20%-10%+0%Network, EH/sPools, EH/svs startSBI pool closesBinance closure announced29 May20 Jun12 Jul3 Aug25 Aug16 Sep8 Oct31 Oct
Network (upper band)

Each pool line is the pool's share of blocks over the previous seven days multiplied by the network's 7-day hashrate. Block discovery is random, so single-day moves should not be over-read; the tables below summarise the whole period.

 

All pools: estimated hashrate by month, EH/s

Pool29 May
start of epoch
Jun
average
Jul
average
Aug
average
Sep
average
Oct
average
31 OctHigh
EH/s · date
Low
EH/s · date
Net change
29 May → 31 Oct
% of network
31 Oct
Blocks
found
Foundry USA298.7235.5237.6223.3238.3266.7283.5298.729 May198.513 Aug−15.226.53%5,762
AntPool187.0178.9167.5170.9181.8211.7217.2229.716 Oct142.126 Aug+30.120.32%4,366
F2Pool132.2113.2139.5145.7140.5170.1170.3186.227 Oct94.88 Jun+38.115.94%3,404
ViaBTC95.086.490.582.690.199.5110.1111.815 Oct72.44 Jun+15.110.31%2,156
SpiderPool92.198.876.986.378.361.050.0117.018 Jun44.829 Oct−42.14.68%1,913
MARA Pool40.253.642.442.749.750.345.962.720 Jun31.913 Aug+5.74.29%1,140
SecPool44.138.235.535.543.142.245.960.28 Sep23.620 Aug+1.84.29%933
Luxor29.433.025.431.530.642.957.161.829 Oct19.93 Jul+27.75.34%788
OCEAN31.327.126.920.016.724.535.736.725 Jun8.117 Aug+4.33.34%557
Braiins Pool11.815.014.117.114.015.717.326.92 Jul3.623 Jul+5.61.62%365
Binance Pool17.613.916.918.817.08.57.128.027 Aug2.910 Oct−10.50.67%358
BTC.com4.93.36.712.712.010.014.317.117 Aug0.06 Jul+9.41.34%219
SBI Crypto25.520.912.10.40.00.00.030.72 Jun0.05 Aug−25.50.00%157
Poolin3.92.32.52.91.91.93.16.415 Jul0.011 Jun−0.90.29%56
WhitePool0.00.43.52.71.93.01.06.331 Jul0.029 May+1.00.10%55
Ultimus Pool3.94.11.90.61.10.00.08.615 Jun0.030 Jun−3.90.00%35
Solo, no tag, other2.06.73.914.921.014.110.226.91 Sep0.08 Jul+8.20.95%291
Network (BMM node)1,019.4931.6903.9908.6937.91,022.21,068.61,088.027 Oct853.19 Jun+49.1100%22,555
Difficulty, T (month end)138.96133.87126.23125.81132.76148.36148.36
BTC/USD (month end)$73,371$58,532$62,822$78,566$83,565$77,437$77,437

Estimated hashrate, 7-day basis: a pool's share of blocks over the previous seven days × the network's 7-day hashrate (BMM node). 29 May and 31 Oct = the values on those days (blocks of 23 - 29 May and 25 - 31 October); Jun - Oct = averages of the daily values in each month; net change = 31 Oct minus 29 May, the same figures as in Gainers and losers; high and low over 29 May - 31 October; % of network = 7-day share on 31 October. Blocks found: 29 May - 31 October. SBI Crypto and WhitePool from BMM's coinbase reading. "Solo, no tag, other" = solo miners (Parasite, FutureBit Apollo), DMND, blocks without a pool tag and pools not named on BMM's node. Difficulty and BTC/USD rows: value at month end (Oct = 31 Oct); 29 May = the difficulty set at block 951,552. BTC/USD: Kraken daily close.

Dynamic: Pools vs Network

On a 7-day basis the network went from 1,019 EH/s on 29 May to 1,073 EH/s on 29 October, the last day of the latest complete epoch (+5.2%). Over the same days F2Pool (+39.4%), AntPool (+18.8%) and the group of all other pools (+12.9%) outgrew the network; ViaBTC (+1.7%) roughly kept pace; Foundry USA (−5.3%) and SpiderPool (−51.3%) fell. In absolute terms F2Pool added 52 EH/s and AntPool 35 EH/s, while SpiderPool gave up 47 EH/s.

Where one pool's gain lines up in time with another's loss, as F2Pool's and SpiderPool's did in mid-July, the pattern is consistent with miners redirecting hashrate between pools. It remains an indication until the pools or the miners confirm it: block attribution shows where blocks were found, not which miners connected where.

Pools share of blocks by epoch

Epoch from blockStartRetargetFoundry
USA
AntPoolF2PoolViaBTCSpider
Pool
OtherTop 5Top 5,
EH/s
Network,
EH/s
Top 5 Δ / other Δ,
EH/s
BMMAA
973,728 *29 Oct+5.54%27.1%21.0%13.3%11.2%5.4%22.0%78.0%8311,066+15 / +0+0.16 Neutral
971,71216 Oct+5.92%26.3%20.4%16.6%9.0%5.5%22.3%77.7%8161,050+23 / +38-0.51 Blue
969,6963 Oct-0.03%26.2%20.6%16.9%10.4%6.0%19.8%80.2%793990+44 / +2+0.28 Neutral
967,68019 Sep+4.16%24.6%21.4%15.9%9.7%7.8%20.6%79.5%750944+16 / -16+0.49 Amber
965,6645 Sep+1.31%25.2%19.1%14.8%10.2%8.5%22.2%77.8%734943+47 / -6+0.49 Amber
963,64823 Aug-1.31%25.8%17.4%14.8%8.6%9.5%23.9%76.1%686902-27 / +19-0.57 Blue
961,6328 Aug+0.99%24.2%20.4%15.3%9.2%9.3%21.6%78.4%713910+10 / -3+0.23 Neutral
959,61625 Jul-0.74%25.8%17.2%17.3%9.1%8.5%22.1%77.9%703903-8 / +14-0.46 Blue
957,60011 Jul-5.00%27.4%18.6%16.8%9.7%6.8%20.7%79.3%711897-38 / -16+0.12 Neutral
955,58427 Jun+7.15%25.1%19.0%13.6%10.4%10.7%21.2%78.8%749951+37 / -20+0.58 Amber
953,56814 Jun-10.09%25.0%19.0%12.3%9.0%10.9%23.7%76.3%712934+2 / +3-0.11 Neutral
951,55229 May+1.72%25.2%19.4%12.0%9.5%10.5%23.5%76.5%711929--

Share of blocks found in each epoch (UTC days from the retarget date). * current epoch, 29 - 31 October, still open. Retarget: difficulty change at the start of the epoch (red = up, blue = down). Top 5: Foundry USA, AntPool, F2Pool, ViaBTC and SpiderPool together. Latest epoch first. BMMAA: BMMAA Pool Concentration Risk for the epoch against the previous one, from −1 to +1; within ±0.30 neutral (block luck), above +0.30 concentrating, below −0.30 decentralising. Method: BMMAA.

BMMAA turns each step into one number, that shows the direction of decentralisation. Concentration rose clearly in 3 of 10 steps between full epochs and fell clearly in 3. The latest complete epoch, from 16 October, read −0.51 (Blue): the network added 61 EH/s, of which the top 5 took 23 EH/s and all other pools 38 EH/s. The daily reading on 30-day windows stood at +0.27 (Neutral) on 31 October.

The clearest absorption came in the epoch from 27 June: the network added 17 EH/s, but the top five added 37 EH/s while other pools lost 20 EH/s (BMMAA +0.58). In the epoch from 19 September the network was flat, yet the top five gained 16 EH/s at the expense of smaller pools (+0.49). The epoch from 23 August went the other way: the network fell 8 EH/s, yet smaller pools grew 19 EH/s while the top five lost 27 EH/s (−0.57), a clear decentralisation move. See BMMAA Pool Concentration Risk.

Proxy pools: declared hashrate, no blocks of their own

The pools below declare hashrate on miningpoolstats but show no block found under their own name, and BMM's coinbase reading does not find them either. They work as proxies: they collect hashrate from their miners and pass it to a larger pool, so their blocks are counted inside that pool. Together they declare about 125 EH/s.

That hashrate is not additional to what the larger pools show. On miningpoolstats the declared hashrate of all pools adds up to about 1,170 EH/s against a network of 1,110 EH/s, so part of it is counted twice. On BMM's node the named pools account for all but about 10 EH/s of the network on 31 October. BMM's estimate is that only a small part of the proxies' declared hashrate, of the order of 10 - 20 EH/s, mines independently; the rest is processed by larger pools. Block data do not show which larger pool processes each proxy's hashrate.

Russia/CIS. BMM expects part of Russia's and the CIS's hashrate to reach the network through EMCD, k8x, Neopool, Headframe, tpool, Kryptex, Sigmapool, Placepool and miningpool.ru. Russian-language guides to pools for miners in Russia list EMCD, Neopool and Kryptex Pool among their recommendations (vc.ru, June 2026; Profinvestment, updated 16 July 2026). Because these pools are proxies, there is no indication of which major pool processes their hashrate. Kazakhstan. 21pool and f2pool.kz are Kazakh pools; f2pool.kz closes on 21 November (see Key developments).

Proxy pools: declared hashrate,
miningpoolstats, 1 Nov 2026

PoolDeclared
EH/s
Note
(expected)
emcd.io39.00Russia/CIS focused
k8x.com17.19Russia/CIS focused
neopool.com16.96Russia/CIS focused
headframe.io11.10Russia/CIS focused
tpool.io9.12Russia/CIS focused
pool.kryptex.com7.10Russia/CIS focused
bmine.io7.02
sigmapool.com3.82Russia/CIS focused
21pool.io3.03Kazakhstan focused
l6pool.com2.44
placepool.pro1.81Russia/CIS focused
pecpool.com1.80
miningpool.ru1.32Russia/CIS focused
poolbtc.io1.13No. 1 in Fractal Bitcoin (merge mining)
frogpool.ae0.80
hash-hut.net0.53
f2pool.kz0.50Kazakhstan focused (closing)
Total124.67

Declared figures are the pools' own and are not verified by BMM. Source: miningpoolstats.stream, 1 November 2026. Trustpool (10.31 EH/s declared) is not in the list: BMM's coinbase reading shows blocks under its own /trustpool/ tag; they sit in "Solo, no tag, other". Solo pools are not listed.

OCEAN: BIP-110 and a change of leadership

OCEAN: blocks per day and estimated hashrate, 29 May - 31 October

To read the graph: OCEAN blocks per UTC day (bars, left scale) and OCEAN estimated hashrate, EH/s, 7-day basis (line, right scale), 29 May - 31 October. Shaded columns alternate by difficulty epoch.

02468101214010203040Blocks per dayEH/s, 7-day basisBIP-110 activation 8 Aug (block 961,632)Luke Dashjr leaves OCEAN, 29 Aug29 May20 Jun12 Jul3 Aug25 Aug16 Sep8 Oct31 Oct
Blocks per day (left)EH/s, 7-day basis (right)

OCEAN by period

PeriodBlocksShare of
blocks
EH/s
7-day basis
8 Jul - 7 Aug1393.16%27.9
10 - 28 Aug441.63%15.8
29 Aug - 30 Sep851.74%16.7
Oct1222.61%24.5

OCEAN averaged 27.9 EH/s in the month before BIP-110 (3.16% of blocks). BIP-110's mandatory signalling began with the epoch from block 961,632 on 8 August; OCEAN's templates sent its miners' hashrate to the breakaway chain for about 18 hours, and OCEAN returned its default connection to the main chain on 9 August. Its hashrate halved, to 15.8 EH/s over 10 - 28 August. Blocks OCEAN found on the BIP-110 chain do not count here. On 29 August OCEAN and Luke Dashjr announced their separation. Hashrate stayed low in September (16.7 EH/s) and recovered in October to 24.5 EH/s, 2.61% of blocks.

Every OCEAN block carries the name of the miner or hashrate provider after the pool tag. Names seen in OCEAN blocks in this period include Peak Mining, SoV, NiceHash, Roughnecks, Sympatheia, Penguin, Simple Mining, Pow.re, Data Factory, SixThirtyAI, BDE, Adecoagro, ZettaPOW, Abundant Mines, Sazmining, Barefoot Mining, Print Crypto and Moonwalk.

Key developments in the mining-pool market

Foundry USA: founding CEO steps down

Mike Colyer, the founding CEO of the Foundry USA pool, announced on 7 October 2026 that he is stepping down as CEO and will remain as an adviser. Foundry USA stayed the largest pool in the period, with 26.53% of network hashrate on 31 October.

SBI Crypto: closed

SBI Crypto announced on 2 July 2026 that its pool would close; mining connections were disconnected from 22:00 UTC on 30 July. In BMM's data SBI averaged 20.9 EH/s in June (88 blocks), 17.1 EH/s in 1 - 15 July (37 blocks) and 7.4 EH/s in 16 - 31 July (15 blocks). Its last block was found on 29 Jul.

Binance Pool: closing on 10 November

Binance announced on 13 October 2026 that Binance Pool will stop accepting shares at 07:00 UTC on 10 November. Binance Pool averaged 16.8 EH/s from 29 May to 27 September (319 blocks). Its hashrate fell to 7.5 EH/s in the two weeks before the announcement (14 blocks, 28 September - 12 October) and was 10.1 EH/s afterwards (25 blocks, 13 - 31 October), 0.67% of the network on 31 October.

Ultimus Pool: closed

Ultimus Pool, announced by Binance Pool as a partner in June 2022, has ended its mining service; its website says it will no longer be accessible from 08:00 UTC on 5 November 2026. BMM expects it to have been a proxy of Binance Pool. In BMM's data Ultimus averaged 4.1 EH/s in June and found its last block on 25 Sep.

f2pool.kz: closing on 21 November (as proxy of F2Pool.com)

F2Pool's Kazakhstan site, launched in December 2023, suspended new registrations from 21 October 2026; existing users can mine until 20 November 23:59 UTC and the site shuts down on 21 November. F2Pool says f2pool.com is not affected.

EMCD: licensed as a local pool in Kazakhstan

EMCD has received the status of a locally accredited mining pool operator in Kazakhstan and has started connecting its first clients there (Inbusiness.kz, 17 September 2026). Under Kazakhstan's rules, licensed farms register their equipment in a state registry and mine through a local accredited pool, which must provide backup infrastructure, independent communication channels and 24/7 support. EMCD describes Kazakhstan as part of its Central Asia strategy. While others leave, SBI Crypto, Binance Pool and Ultimus Pool from the market and f2pool.kz from Kazakhstan, EMCD is exploring the opportunity of a new region. EMCD declares 39.00 EH/s on miningpoolstats and finds no blocks under its own name; it is listed with the proxy pools above.

Tether's MDK: 15 companies sign up

On 24 October 2026 Tether announced that 15 companies back its open-source MDK (mining development software), a common interface that lets software and AI agents work across mining hardware, pools and sites without a separate integration for each. Each backer builds and maintains its own connector. Six of them run pools: Foundry, F2Pool, Luxor, OCEAN, SpiderPool and EMCD. The 15: Bitmain, Bitdeer, Canaan, MicroBT, Foundry Digital, F2Pool, Luxor Technology, OCEAN, ACME Swisstech, Elektron Energy, EMCD, Heatbit, Proto, SpiderPool and Stratum V2.

Stratum V2

The first Bitcoin block produced with Stratum V2 Job Declaration, block 955,318 reported by DMND, is visible in BMM's coinbase reading with the tag /DMND/. Of the 5 largest pools, four (AntPool, F2Pool, Foundry, SpiderPool) have been members of the Stratum V2 Working Group since May 2026.

CoinEx wind-down and ViaBTC statement

CoinEx is winding down (withdrawals open until 22 December 2026) and ViaBTC ended automatic withdrawal to CoinEx on 22 September, stating that the pool is independent. ViaBTC ended the period at 110.1 EH/s, 10.31% of the network on 31 October (+15.1 EH/s since 29 May).

Poolin

Poolin-related US entities filed for Chapter 11 in July 2026 over their Texas mining assets. Poolin's pool kept finding blocks: 56 in the period, about 1.9 EH/s in October.

Neopool

Neopool, which reported a security incident in late July and later restored its domain and e-mail, declares 16.96 EH/s on miningpoolstats but finds no blocks under its own name: it was added to the category of the proxy pools listed above.

Solo mining

Solo miners found 4 blocks in this period (Parasite pool 3 blocks and FutureBit Apollo 1 block, according to BMM's coinbase reading). Each block shows that small miners can take an active part and contribute to decentralisation.

What BMM will watch next

Binance Pool closes on 10 November and f2pool.kz on 21 November: BMM will show in the next edition where pool shares move after those dates. Still to come: Stratum V2 adoption, DATUM and solo mining.

The difficulty increase in October and BTC volatility will keep the pressure on miners' economics during November. We could see some attrition of hashrate from lower-grade hardware (higher J/TH), which is more likely to affect smaller pools. BMM will stay focused on AntPool as a prime indicator of Bitmain pushing alternative sales options (hosted hardware, hashrate sales).

Sources
Data and method

Blocks by pool come from BMM's own Bitcoin node: the node's pool identification (coinbase attribution) and BMM's own reading of each block's coinbase text, 29 May - 31 October 2026, full UTC days (22,555 blocks). A pool's estimated hashrate is its share of blocks over the previous seven days multiplied by the network's 7-day hashrate estimate from the same node; the value for 29 May uses the blocks of 23 - 29 May. Epoch shares count blocks found on UTC days from each retarget date. BMMAA per epoch compares the growth of the top 5 pools' and all other pools' estimated hashrate against the previous epoch, on a scale from −1 to +1; the daily 30-day version and its limits are described on the BMMAA methodology page. Proxy-pool hashrate is as declared on miningpoolstats.stream on 1 November 2026 and is not verified by BMM. Difficulty: BMM node. BTC/USD: Kraken daily close. Event dates and pool news are from the sources listed. Block discovery is random, so short-window shares carry noise, especially for small pools.

For information only; not investment advice. Figures are estimates and may be revised as data is updated.