Bitcoin

In a stunning revelation, recent research has shown that 47% of Bitcoin’s total <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> is under the control of a single custodian, Cobo. Eight major mining pools, including <a href="https://account.antpool.com/sign_up?method=2&amp;service=&amp;inviteCode=f9nZyT" rel="noopener noreferrer nofollow">AntPool</a>, <a href="https://ultramining.com/en/ratings/f2pool/" rel="noopener noreferrer nofollow">F2Pool</a>, Binance Pool, and <a href="https://ultramining.com/en/ratings/btccom/" rel="noopener noreferrer nofollow">BTC.com</a>, route their payouts through Cobo’s addresses, effectively consolidating control over nearly half of the network’s new Bitcoin <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">production</a>. This consolidation raises serious concerns about the decentralization and security of the Bitcoin network.
Compounding the issue is the rise of proxy pools. Analysis shows that many of these pools receive identical block templates and transaction prioritization from Antpool, indicating that they are essentially acting as proxies rather than independent operators. The combined effects of custodian consolidation and proxy pools suggest that what appears to be a competitive landscape is, in reality, controlled by a few key players This concentration could undermine Bitcoin's ethos of decentralization and its resistance to censorship.

47% of Bitcoin Hashrate Controlled by a Single Custodian, Cobo

Ultramining_Eng

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