Mysterious Miner Disrupts Bitcoin Network: What’s Behind the Invasion?

An unknown miner has taken over the Bitcoin network and has been mining several blocks, earning 6.25 BTC each time. The identity of the miner is unknown, and even established pools such as Binance Pool and AntPool have been usurped. In the last day, the miner has verified over 10 Bitcoin blocks, earning over 65 BTC worth over $1.7 million at spot rates. While it is possible that a new player has plugged in thousands of mining rigs to stay competitive, it is more likely that the unknown entity is a mining pool. In proof-of-work networks like Bitcoin, groups of miners can merge their computing power in “pools” to verify blocks of BTC transactions. The network rewards them with the block rewards of 6.25 BTC and fees associated with the block. The biggest mining pools include AntPool and ViaBTC. It is speculated that the unknown entity is F2Pool, one of the oldest and largest mining pools in the world, controlling 8.19% of the total Bitcoin hash rate. However, trackers show that the last time F2Pool mined was in late May 24, and it is possible that there could have been a hitch in the attribution logic.

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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