Four Mining Pools Now Control Over 70% of Bitcoin’s Hashrate

Jul 19, 2026 — Four Bitcoin mining pools—Foundry Digital, AntPool, ViaBTC, and F2Pool—now control more than 70% of the network’s total hashrate, according to data from miningpoolstats.stream captured on June 23, 2026. The concentration is creating what industry analysts describe as a two-tier market that increasingly favors institutional miners over independent operators.

Immediate Details & Direct Quotes

The hashrate distribution among the four dominant pools was stark as of the June 23 snapshot. Foundry Digital led with 31% of the network’s computational power, followed by AntPool at 18%, ViaBTC at 13%, and F2Pool at 10%, according to a CryptoSlate partner article published on July 8, 2026.

Foundry Digital, the US-based pool backed by Digital Currency Group, is reportedly built primarily for large-scale institutional operators and publicly traded mining companies. The pool enforces strict Know Your Customer (KYC) requirements for client onboarding, a barrier that effectively excludes smaller operators.

D-Central’s H1 2026 analysis, using data from June 19, 2026, calculated Bitcoin mining pools’ Nakamoto coefficient at just 3. This metric means only three pools would need to collaborate to exceed 50% of all blocks mined, raising significant centralization concerns within the network.

Market Context & Reaction

The four-pool dominance is reshaping the mining landscape into what CryptoSlate frames as a “two-tier market.” Major pools are increasingly optimizing their operations for institutional clients, offering responsive support, predictable payout structures, and compliance-ready infrastructure.

Independent and mid-size miners are now quietly reassessing which pools to point their equipment toward, particularly as they find themselves treated as edge cases rather than core customers. The shift reflects broader industry dynamics where scale determines service quality and operational reliability.

ViaBTC, which held approximately 13% of hashrate in the June estimates, has faced heightened regulatory scrutiny during 2026. The coverage notes that miners from Russia and other CIS countries have experienced account restrictions, sudden KYC demands, and temporary fund freezes—friction that is pushing some operators toward alternatives.

EMCD has emerged as a potential alternative for dissatisfied miners. The pool claims over 30 EH/s of hashrate with fees starting at 1.5% under the Full Pay Per Share (FPPS) model, compared with roughly 4% charged by many comparable pools. EMCD was founded in 2017 and launched its first pool in February 2018.

Background & Historical Context

Bitcoin mining has traditionally been portrayed as a decentralized, open-access industry. However, the mid-2026 data reveals a different reality: a handful of pools now control the majority of block production and determine which miners receive optimal service.

The most recent 7-day window data, posted on July 16, 2026, shows Foundry USA maintaining 27.0% of blocks, with F2Pool and AntPool both at 17.2%, ViaBTC at 9.5%, and SpiderPool at 5.5%. This real-time data confirms the persistent concentration among the top players.

The shift toward institutional optimization is not sudden but represents a gradual evolution. As mining has become more capital-intensive, pools have adapted their business models to serve the largest operators, leaving smaller miners searching for pools that still prioritize their needs.

What This Means

The concentration of hashrate among four pools presents both risks and opportunities for the Bitcoin network. A Nakamoto coefficient of 3 means the network is theoretically vulnerable to collusion among a small number of pool operators, which contradicts Bitcoin’s foundational principle of decentralization.

For independent miners, the two-tier market may accelerate consolidation, as smaller operators face diminishing returns and service quality disparities. Those unable to meet institutional compliance requirements or compete on scale may need to explore alternative pools like EMCD that cater to a broader client base.

Regulatory scrutiny, particularly against ViaBTC, could further shift hashrate distribution in the coming months. Miners who value operational stability and transparent fee structures should monitor pool policies closely and consider diversification strategies.

Not financial advice. Always conduct your own research before making mining-related decisions.

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