Companies  •  Mining  •  News

GHash Mining Pool Generates $250 Million in Bitcoin in One Year

| Published on August 4, 2014 at 16:30 BST

Since opening its doors on 3rd August of last year, major bitcoin mining pool operator GHash.io has generated nearly $250m in bitcoin, according to a new infographic released by the company.

The pool has produced 413,752.01889456 BTC since it first began hashing in 2013, an amount worth $248,251,211.33 according to the CoinDesk USD Bitcoin Price Index.

ghash

 

This fact was just one of the noteworthy statistics provided by the infographic, as the full release contains both hard mining data as well as a brief timeline of the company’s history.

The publication comes at a time when the company has faced scrutiny for its outsized share of the bitcoin network hashrate – a number which has come perilously close to 50% in recent months. As a result, GHash has embarked on a campaign of transparency and advocacy to assuage community concerns it could or would carry out a 51% attack against the network.

Overall, the data demonstrates GHash's long-standing position as one of the largest mining pools in the space.

Blocks galore

The most notable information in the release pertains to the number of blocks GHash has processed since the pool first opened. Of course, given its long operating history, it’s not surprising that GHash has received its fair share of hashes.

According to the infographic, GHash has received almost 383 sextillion hashes - or 382,760,564,258,698,078,191,616 hashes, to be exact.

ghash

Miners themselves have submitted nearly 90 trillion shares, or exactly 89,118,388,541,671 shares, since mining began.

With this massive amount of hashing power, GHash has solved quite a few blocks as well. Since launch, the pool has solved 156,039 blocks, enabling the confirmation of 6,105,849 transactions.

Steady rise in users

Despite criticism about its size and grassroots-level calls for miners to shift away their hashing power, GHash has seen a steady rise in the number of workers mining in its pool.

The number of users rose steadily in the first few months, according to the infographic, reaching 44,000 by November. It reached 132,000 by March after a rapid climb following the now-infamous price increase at the end of 2013, and as of July, GHash had 220,000 registered users.

ghash

As one might expect, GHash users contribute a significant amount of hashing power, with most of that number deriving from hardware. GHash miners using their own equipment contribute roughly 41 PH/s, with an additional 5 to 6 PH/s coming from the pool’s cloud hosting service.

Unsurprisingly, the site has utilized a tremendous amount of electricity during operation. Since launch, miners on GHash have consumed 159,519,788 kilowatt hours worth of power.

Images via GHash.io

51% attacksGHASH.ioMining

There are 78 comments. Press to view.