作為世界上最大的比特幣採礦樞紐 - 美國，制定了一系列加密和採礦友好的政策

到2025年6月，總比特幣網絡哈希拉特穩定地保持了歷史高度約為900 EH/s，反映了將近30％的增長

As the world's largest Bitcoin mining hub—the United States—rolled out a series of crypto- and mining-friendly policies following the inauguration of new President Trump in January 2025, the crypto market saw a major boost in confidence, especially due to the push for establishing a national cryptocurrency strategic reserve. Meanwhile, local governments across various states introduced regional support policies, which further attracted the return of mining farms, hashrate service providers, and capital, accelerating the overall growth of the mining industry.

作為全球最大的比特幣採礦樞紐（美國），在2025年1月成立新總統特朗普之後，推出了一系列加密和採礦友好的政策，因此加密貨幣市場充滿信心，尤其是由於建立國家加密戰略儲備的推動。同時，各個州的地方政府提出了區域支持政策，該政策進一步吸引了採礦農場，哈希拉特服務提供商和資本的回報，從而加速了採礦業的整體增長。

By June 2025, the total Bitcoin network hashrate had steadily remained at a historic high of around 900 EH/s, reflecting a nearly 30% increase since the beginning of the year. A large number of next-generation mining rigs entered mass production, and mining infrastructure construction has significantly accelerated. New hashrate continues to flow into North America, Latin America, and the Middle East. Amid this mining boom, which mining pools managed to attract more hashrate? How did the leading pools perform in the first half of 2025? This article will take you through the details.

到2025年6月，比特幣網絡Hashrate穩步保持在歷史悠久的高度900 EH/s，反映出自今年年初以來增長了近30％。大量的下一代採礦鑽機進入了大規模生產，採礦基礎設施的建設已大大加速。新的哈希拉特繼續流入北美，拉丁美洲和中東。在這個採礦繁榮時，哪些採礦池設法吸引了更多的橋樑？領先的游泳池在2025年上半年的表現如何？本文將為您介紹細節。

Hashrate trends

哈希趨勢

The launch of next-generation ASIC Miners such as the ANTMINER S23 Hyd., ANTMINER S23 Imm., and SEALMINER A2 Pro Hyd. triggered a new round of "arms race" in the 2025 mining market. These machines brought major upgrades in terms of hashrate performance, energy efficiency, and cooling systems. However, their high prices raised the entry threshold, pushing the industry further toward capital-intensive operations. Leading mining pools and large-scale mining farms are leveraging their resource advantages to strengthen their dominance in the industry.

下一代ASIC礦工的推出，例如Antminer S23 Hyd。 ，Antminer S23 Imm。和Sealminer A2 Pro Hyd。在2025年的採礦市場中引發了新的“軍備競賽”。這些機器在哈希酸鹽性能，能源效率和冷卻系統方面進行了重大升級。但是，他們的高價提高了入境門檻，將行業進一步推向了資本密集型運營。領先的採礦池和大型採礦農場正在利用其資源優勢來加強其在行業中的統治地位。

Top-tier mining pools such as Foundry USA, AntPool, ViaBTC, F2Pool, and Binance Pool continue to control around 80% of the global Bitcoin hashrate. As new hashrate continues to be added across the industry, these pools are also seeing steady hashrate growth. The hashrate growth trend is shown in the chart below:

諸如美國鑄造廠，Antpool，Viabtc，F2Pool和Binance池等頂級採礦池繼續控制大約80％的全球比特幣Hashrate。隨著整個行業中新的哈希拉特次數繼續添加，這些池也看到了穩定的哈希增長。下圖顯示了哈希拉特增長趨勢：

Source: explorer.cloverpool

資料來源：Explorer.cloverpool

Block mining analysis

塊挖掘分析

Although in theory, higher hashrate increases the probability of mining a block, the actual number of blocks mined is the key factor that directly impacts miner earnings. This is especially true for miners using the PPLNS (Pay Per Last N Shares) payment method, where the pool's real block output capacity directly determines their final revenue.

儘管從理論上講，較高的哈希酸鹽增加了開採塊的可能性，但開采的實際塊數量是直接影響礦工收入的關鍵因素。對於使用PPLN（每股付款）付款方式的礦工來說，尤其如此，其中池的實際收益產能直接決定其最終收入。

Source: mempool.space

資料來源：mempool.space

According to data from the Mempool, a total of 26,510 Bitcoin blocks were mined from the beginning of the year through June. Among them:

根據Mempool的數據，從年初到6月，總共開采了26,510個比特幣塊。他們之中：

As shown in the data above, except for some fluctuations in Binance Pool, the other four top mining pools performed relatively steadily overall. The large deviation between Binance Pool's hashrate and block output rate indicates its lower-than-expected block production in practice.

如上圖所示，除了Binance池中的某些波動外，其他四個頂級採礦池的整體表現相對穩定。 Binance池的哈希酸鹽和塊輸出速率之間的較大偏差表明其實踐中的塊產量低於預期的塊。

In contrast, Foundry USA, AntPool, ViaBTC, and F2Pool demonstrated a strong correlation between hashrate and actual block output, highlighting their technical strengths in mining infrastructure and network optimization. Generally, the more stable a pool is, the more predictable the miner's income becomes, which also enhances brand trust among miners.

相比之下，美國鑄造廠，螞蟻，ViaBTC和F2Pool表現出了哈希酸鹽與實際塊輸出之間的強烈相關性，突出了它們在採礦基礎架構和網絡優化方面的技術優勢。通常，一個池越穩定，礦工的收入就越可預測，這也可以增強礦工的品牌信任。

Market overview

市場概述

In the first half of 2025, top mining pools have not only continued to strengthen their hashrate deployment but also actively expanded their brand and ecosystem in a bid to compete for global miner resources and industry influence.

在2025年上半年，頂級採礦池不僅繼續加強其哈希底部部署，而且還積極擴大其品牌和生態系統，以爭奪全球礦工資源和行業的影響力。

Join the event at: https://www.viabtc.com/activity/9th-anniversary

參加活動：https：//www.viabtc.com/activity/9th-anniversary

ViaBTC made a significant move in security and compliance by passing the internationally recognized SOC 2 Type I audit, reinforcing its trust and brand image among global users. In June, ViaBTC launched its 9th-anniversary global celebration with the “Complete the Puzzle, Unlock $69,999” event, featuring community engagement through daily check-ins, quizzes, and voting activities. It also actively participated in global industry forums including Blockchain Forum 2025, Mining Disrupt 2025, and Bitcoin Conference 2025, expanding its international presence.

ViaBTC通過通過國際認可的SOC 2 I型審核來實現安全和合規性，從而增強了全球用戶的信任和品牌形象。 6月，ViaBTC通過“完成難題，69,999美元的$ 69,999”活動啟動了9屆全球慶祝活動，通過日常簽到，測驗和投票活動進行了社區參與。它還積極參加了全球行業論壇，包括2025年區塊鏈論壇，挖掘2025和2025年比特幣會議，從而擴大了其國際影響力。

In addition, AntPool and F2Pool have also been proactive in business development and user incentives in the first half of 2025. AntPool launched a limited-time promotion for BTC and LTC mining rigs buyers, offering 90 days of zero-fee mining for eligible participants. F2Pool has expanded beyond mining by rolling out staking services in collaboration with stake.fish, supporting multi-token staking including ETH, CFX, SOL, NEAR, and BTC through Babylon Network—offering miners more options for asset growth and management.

此外，Antpool和F2Pool在2025年上半年也在業務發展和用戶激勵措施方面積極主動。 Antpool為BTC和LTC採礦鑽機購買了限時促銷，為合格的參與者提供了90天的零費用採礦。 F2Pool通過與Stake.Fish合作推出了Staking Services，通過Babylon Network來支持ETH，CFX，SOL，附近和BTC，為礦工提供更多資產增長和管理方案，從而擴展了礦業。

Looking ahead to the second half of the year, the mining industry may enter a new phase of intensified competition. With Bitcoin prices recovering since June, both miners and institutional investors are regaining confidence, sidelined capital is reentering the

展望下半年，採礦業可能進入一個新的競爭階段。自6月以來比特幣價格恢復，礦工和機構投資者都在重新獲得信心，因此資本不足，重新進入