Will Binance's mining pool dominate the market? Other pool operators don't think so

Quick Take

  • Binance recently ventured into the business of mining pools. Will it grow too big? Market participants reached by The Block are doubtful
  • F2Pool’s Thomas Heller, for instance, said in the next 3-6 months, Binance could control 5-10% of bitcoin network’s hash rate
  • CoinMint’s Michael Maloney said he doesn’t expect Binance pool to grow beyond 10% of the hash rate
  • Other experts shared concerns about centralization in the long-term
Binance recently got into the mining pool business. While the exchange's move is good for competition, some concerns and challenges remain, other mining pool operators and industry experts told The Block.

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