According to recent research by Diar, unknown miners have solved 22% of the total blocks in December. That’s a notable increase from the 6% they solved at the start of 2018.
Unknown Bitcoin Miners on the Rise
According to Diar, the fact that unknown miners have now account for a larger part of the total solved blocks because larger pools are turning off their computing power which leads to a declining mining pool dominance.
However, it could also spell signs of trouble. Miners don’t have an obligation to share details on the pools they are joining. Unknown miners, hence, could still be potentially a part of a pool but they might have opted not to share information of the kind.
Diar reports that at the beginning of 2018, pools led by Bitmain and ViaBTC (where Bitmain also had invested in) controlled a total of 53% of the networks has power. In 2019, however, this percentage has been reduced to 39.
Bitcoin Price and Hashpower
This month the network saw an uptrend for the very first time since August 2018. This was caused by a spike in Bitcoin’s price from $3,200 to more than $4,000.
This triggered an increase of almost 50%, putting an end of the decline trend which had started in December.
Diar concludes, however, that it’s unlikely this growth is sustainable.
What do you think of unknown Bitcoin miners claiming a bigger share of the total solved blocks? Let us know down below!