When discussing Bitcoin mining, the focus often falls on hashrate — the raw computational power of mining hardware. While hashrate is a critical factor, it is not the sole determinant of profitability. Electricity costs, network difficulty, and, importantly, the choice of mining pool all play significant roles in determining long-term returns.
Why the Pool Matters
At first glance, mining pools may appear nearly identical. Fee structures and payout models often differ only slightly. However, these seemingly minor differences compound over time. For example, a 1% variance in daily profit becomes substantial when operating high-capacity hardware over months or years.
WhiteBIT’s Experiment
WhiteBIT recently conducted a comparative analysis of five established mining pools: AntPool, F2Pool, WhitePool, Luxor, and ViaBTC. The evaluation used identical hardware — the Antminer S21.
The results indicated that WhitePool consistently outperformed its competitors, generating approximately 1.7% higher earnings. For a miner operating at 100 PH/s, this translated into an additional $866 per week compared to the lowest-performing pool.
A Miner’s Practical Test
Even before WhiteBIT published its findings, an independent miner had already tested WhitePool using an Antminer S21 at 200 TH/s. His observations included:
- Setup time: approximately one hour
- Stability: no downtime or lag during operation
- Daily earnings: around $10.38
- 58-day total: approximately $600 in profit
The full write-up is available in his report.
Conclusion
Mining success extends beyond raw hardware performance. The choice of mining pool directly impacts profitability through fee structures, uptime reliability, and payout consistency. While percentage differences may appear negligible in isolation, they accumulate rapidly at scale. For miners operating substantial hardware, selecting the right pool is a strategic decision with measurable financial outcomes.
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