Bitcoin Network Sees a Massive Mining Pool Shift Following the Halving

Following the third bitcoin halving on May 11, 2020, there’s been a big shift in mining pool distribution, as far as hashrate is concerned. At the time of publication, there’s around 100-115 exahash per second (EH/s) in search of bitcoin blocks and spectators have seen two relatively unknown mining pools join the top mining pool contenders. Both of these new mining pools capture around 14 EH/s today, and the top operations F2pool and have around 34 EH/s between both pools.

The last BTC halving saw a small amount of different network activity and every single mining operation lost 50% of revenue after the halving. A minuscule fraction of hashrate has left since the revenue cut, and BTC transaction (txn) fees have been on the rise. In the last 48 hours, a single BTC txn can cost a user between $2-4 depending on network congestion.

Another noticeable sight is the occurrence of extremely less stealth hash (unknown miners) than weeks ago and two relatively new mining operations. The two mining pools called 1Thash and have gained a lot of hashrate since the halving and both operations have captured around 14 EH/s since then.

Bitcoin hashrate distribution according to’s pool stats on May 14, 2020. The picture at the very bottom of this article is the top 15 mining pools hashing away at the Bitcoin (BTC) network.

1Thash was known for some time now, but the pool had way less hashpower than it does today, as it captures 7.6% of the overall hashrate on May 14, 2020. Hashrate distribution statistics show that the pool mined its first coins at block height 627,441. Similarly to 1Thash, the operation also has 7.6% of today’s SHA256 hashrate on the BTC chain, and both of them control the fifth and sixth largest hashrate distribution positions.

According to the regional reporter Lylian Teng from 8btc, Lubian’s name means “roadside” and the website claims to be the “safest high yielding mining pool.” Teng also said that the local Chinese news outlet Blockbeats were the first to spot Lubian hashing away at the BTC chain, and they gave information to for distribution statistics.