The cryptocurrency community has been discussing mining centralization after a report was published that disclosed five mining operations command more than 50% of the BTC hashrate. At the time of publication, between F2pool, Poolin,, and Antpool, the pools are hashing more than 59% of the BTC network hashrate.

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Data-Driven Report Says BTC Hashrate Distribution Is Centralized

On January 31, researchers from the firm Tokenanalyst published a report entitled “Centralisation in Bitcoin Mining: A Data-Driven Investigation” which covers the BTC hashrate distribution in 2020. The latest Tokenanalyst study stresses that BTC is decentralized and a trustless system, but researchers believe hashrate distribution is quite centralized.

5 Mining Operations Command More Than 50% of BTC's Network Hashrate
“On 27th January 2020, these 5 mining entities controlled 49.9% of the hashrate of the bitcoin network,” the Tokenanalyst report highlights.

“In 2020, bitcoin has also become a highly centralised system that places an…

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