作为世界上最大的比特币采矿枢纽 - 美国，制定了一系列加密和采矿友好的政策

到2025年6月，总比特币网络哈希拉特稳定地保持了历史高度约为900 EH/s，反映了将近30％的增长

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.

作为全球最大的比特币采矿枢纽（美国），在2025年1月成立新总统特朗普之后，推出了一系列加密和采矿友好的政策，因此加密货币市场充满信心，尤其是由于建立国家加密战略储备的推动。同时，各个州的地方政府提出了区域支持政策，该政策进一步吸引了采矿农场，哈希拉特服务提供商和资本的回报，从而加速了采矿业的整体增长。

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，比特币网络Hashrate稳步保持在历史悠久的高度900 EH/s，反映出自今年年初以来增长了近30％。大量的下一代采矿钻机进入了大规模生产，采矿基础设施的建设已大大加速。新的哈希拉特继续流入北美，拉丁美洲和中东。在这个采矿繁荣时，哪些采矿池设法吸引了更多的桥梁？领先的游泳池在2025年上半年的表现如何？本文将为您介绍细节。

Hashrate trends

哈希趋势

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矿工的推出，例如Antminer S23 Hyd。，Antminer S23 Imm。和Sealminer A2 Pro Hyd。在2025年的采矿市场中引发了新的“军备竞赛”。这些机器在哈希酸盐性能，能源效率和冷却系统方面进行了重大升级。但是，他们的高价提高了入境门槛，将行业进一步推向了资本密集型运营。领先的采矿池和大型采矿农场正在利用其资源优势来加强其在行业中的统治地位。

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:

诸如美国铸造厂，Antpool，Viabtc，F2Pool和Binance池等顶级采矿池继续控制大约80％的全球比特币Hashrate。随着整个行业中新的哈希拉特次数继续添加，这些池也看到了稳定的哈希增长。下图显示了哈希拉特增长趋势：

Source: explorer.cloverpool

资料来源：Explorer.cloverpool

Block mining analysis

块挖掘分析

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.

尽管从理论上讲，较高的哈希酸盐增加了开采块的可能性，但开采的实际块数量是直接影响矿工收入的关键因素。对于使用PPLN（每股付款）付款方式的矿工来说，尤其如此，其中池的实际收益产能直接决定其最终收入。

Source: mempool.space

资料来源：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:

根据Mempool的数据，从年初到6月，总共开采了26,510个比特币块。他们之中：

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.

如上图所示，除了Binance池中的某些波动外，其他四个顶级采矿池的整体表现相对稳定。 Binance池的哈希酸盐和块输出速率之间的较大偏差表明其实践中的块产量低于预期的块。

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，美国铸造厂，蚂蚁，ViaBTC和F2Pool表现出了哈希酸盐与实际块输出之间的强烈相关性，突出了它们在采矿基础架构和网络优化方面的技术优势。通常，一个池越稳定，矿工的收入就越可预测，这也可以增强矿工的品牌信任。

Market overview

市场概述

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，顶级采矿池不仅继续加强其哈希底部部署，而且还积极扩大其品牌和生态系统，以争夺全球矿工资源和行业的影响力。

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

参加活动：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通过通过国际认可的SOC 2 I型审核来实现安全和合规性，从而增强了全球用户的信任和品牌形象。 6月，ViaBTC通过“完成难题，69,999美元的$ 69,999”活动启动了9届全球庆祝活动，通过日常签到，测验和投票活动进行了社区参与。它还积极参加了全球行业论坛，包括2025年区块链论坛，挖掘2025和2025年比特币会议，从而扩大了其国际影响力。

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年上半年也在业务发展和用户激励措施方面积极主动。Antpool为BTC和LTC采矿钻机购买了限时促销，为合格的参与者提供了90天的零费用采矿。 F2Pool通过与Stake.Fish合作推出了Staking Services，通过Babylon Network来支持ETH，CFX，SOL，附近和BTC，为矿工提供更多资产增长和管理方案，从而扩展了矿业。

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，采矿业可能进入一个新的竞争阶段。自6月以来比特币价格恢复，矿工和机构投资者都在重新获得信心，因此资本不足，重新进入