The problem pools solve
Bitcoin mining is a race to find a rare hash. The network produces about 144 blocks per day, and with roughly 1,031 EH/s of global hashrate, a single machine almost never wins. Mining solo means years of electricity bills punctuated, maybe, by one jackpot. Pools fix the variance problem: thousands of machines work on the same block template, the pool wins blocks regularly, and every participant gets paid for the work they contributed.
How shares and payouts work
The pool gives each miner work and accepts shares: hash results that would not win a real block but prove the miner is genuinely hashing. Your share count measures your contribution. Payout schemes differ in who carries the luck risk. Under FPPS (used by Foundry USA and most majors) the pool pays a fixed rate per share and absorbs variance itself. Under PPLNS the pool only distributes what it actually mines, so miner income swings with pool luck. The pool charges a fee for this service, typically 0% to 4% of revenue.
Expected revenue per unit of hashrate is captured by hashprice: dollars per PH/s per day. Multiply your fleet's hashrate by hashprice, subtract the pool fee and your power cost, and you have your mining margin.
Picking a pool
The practical checklist: fee level and payout scheme, minimum payout, stratum server latency from your location, reporting quality, and the operator's track record. Larger pools mean steadier payouts; smaller and non-custodial pools help keep block production decentralized. Compare every major pool's live hashrate, share and fees in the mining pool comparison, or dive into individual pools like Foundry USA, AntPool, F2Pool and OCEAN.
Frequently Asked Questions
Why do miners join pools instead of mining solo?
A single modern ASIC would find a block on its own roughly once every several hundred years. Pools combine the hashrate of thousands of machines so blocks are found regularly, then split the reward in proportion to the work each miner contributed. Revenue becomes a steady stream instead of a lottery.
What is a share in mining?
A share is a proof of work that meets a much easier target than a real block. Miners submit shares continuously to prove how much hashing they are doing. The pool counts shares to measure each miner's contribution and to divide rewards fairly.
What is the difference between FPPS, PPS+ and PPLNS?
FPPS pays a fixed rate per share covering both block subsidy and average transaction fees, so the pool absorbs luck. PPS+ pays a fixed rate for the subsidy plus a share of actual fees. PPLNS pays out only from blocks the pool actually finds, split over the last N shares, so miner income follows pool luck.
Do mining pools control Bitcoin?
Pools assemble blocks and direct hashrate, but the hardware belongs to individual miners who can switch pools in minutes. That said, hashrate concentration in a few large pools is a real decentralization concern, which projects like Stratum V2 and non-custodial pools such as OCEAN try to address.
Ready for live numbers? Open the MiningRadar dashboard to see every pool's hashrate update in real time.