Bitcoin Mining Pool Centralization: Nakamoto Coefficient & HHI Tracker
How concentrated is Bitcoin mining? Nakamoto coefficient, HHI and per-pool hashrate share across time windows.
Quick answer
Over the last month, Bitcoin's hashrate was spread across 24 identified mining pools, but it takes only 3 pools to control more than half the network — the Nakamoto coefficient. The HHI concentration index is 1,491 (unconcentrated), and the single largest pool mined 26.3% of blocks. Lower Nakamoto and higher HHI both mean more centralization.
Solo and decentralized-template mining (DATUM, Stratum V2 job declaration) push the Nakamoto coefficient up and template sovereignty with it. Full data — every window, free to download under CC BY 4.0.
Template sovereignty: who actually builds the block?
Hashrate share tells you who finds blocks — not who decides what goes in them. On most pools the operator builds the block template and the miner only supplies proof-of-work, so the operator chooses which transactions confirm. Over the last month just 4.63% of Bitcoin's hashrate mined on a pool that lets the miner build its own block template: OCEAN (3.05%), Braiins Pool (1.56%), Public Pool (0.02%) — via Stratum V2 job declaration, OCEAN's DATUM, or a self-hostable / peer-to-peer pool. On the other 94.36% of identified hashrate the pool operator builds the template and picks the transactions.
Capability footprint, not confirmed adoption. This is the share of hashrate on pools that permit miner-built templates, not blocks proven to use it. On P2Pool, Public Pool and self-hosted pools that is the default; on Braiins Pool and OCEAN it is opt-in (Stratum V2 job declaration and DATUM) and still lightly adopted, so the share of blocks the miner actually built is smaller — under about 1% today. It also cannot see self-hosted solo miners, who are unattributable (~1.01% “unknown”). Read 4.63% as the addressable ceiling on today's pools, not the achieved figure. Live shares from mempool.space, as of 2026-07-28.
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Concentration by time window
| Window | Pools | Nakamoto | HHI | Top pool | Top 3 |
|---|---|---|---|---|---|
| Last week | 20 | 3 | 1,490 | 26.8% | 60.5% |
| Last month | 24 | 3 | 1,491 | 26.3% | 60.2% |
| Last 3 months | 26 | 3 | 1,496 | 27.6% | 58.5% |
| Last year | 34 | 3 | 1,539 | 29% | 58.3% |
Current pool shares (last month)
| # | Pool | Blocks | Share |
|---|---|---|---|
| 1 | Foundry USA | 1094 | 26.27% |
| 2 | AntPool | 766 | 18.39% |
| 3 | F2Pool | 648 | 15.56% |
| 4 | ViaBTC | 388 | 9.32% |
| 5 | SpiderPool | 350 | 8.4% |
| 6 | MARA Pool | 191 | 4.59% |
| 7 | SECPOOL | 165 | 3.96% |
| 8 | OCEAN | 127 | 3.05% |
| 9 | Luxor | 118 | 2.83% |
| 10 | Binance Pool | 78 | 1.87% |
| 11 | Braiins Pool | 65 | 1.56% |
| 12 | SBI Crypto | 54 | 1.3% |
| 13 | Unknown | 42 | 1.01% |
| 14 | BTC.com | 31 | 0.74% |
| 15 | WhitePool | 16 | 0.38% |
| 16 | Poolin | 12 | 0.29% |
| 17 | ULTIMUSPOOL | 9 | 0.22% |
| 18 | NiceHash | 4 | 0.1% |
| 19 | Parasite | 2 | 0.05% |
| 20 | Solo CK | 1 | 0.02% |
| 21 | RedRock Pool | 1 | 0.02% |
| 22 | Public Pool | 1 | 0.02% |
| 23 | Innopolis Tech | 1 | 0.02% |
| 24 | Mining-Dutch | 1 | 0.02% |
Method: The Nakamoto coefficient is the fewest pools whose combined share exceeds 50% of blocks — the smaller it is, the easier a majority coalition. HHI sums the squared percentage shares (US DOJ guide: <1500 unconcentrated, 1500-2500 moderate, >2500 highly concentrated). Pool attribution from mempool.space is a proxy based on coinbase tags (see which tag each pool stamps). See also the mining-pool database.
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Last reviewed June 18, 2026.
