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The summary of these mining pools in terms of hash rate, network share, block count and rank are shown in Table 10. Mining pool Poolin AntPool SlushPool F2Pool BTC.com BTC.TOP Hash rate 4,533.42 PH/S 4,148.67 PH/S 3,743.92 PH/S 4,932.08 PH/S 7,821.32 PH/S 2,357.11 PH/S Network Block count share 10.74% 2,586 9.79% 41,448 8.83% 28,719 10.72% 44,974 17.02% 19,516 5.13% 12,296 Rank for 6 months 1 2 3 4 6 7 Overall rank 22 3 5 2 7 12 Table 11: Bitcoin Mining Pool status Table 10 shows the mining pool ranks for the last 6 months and overall rank with the total number of blocks mined. As of today, Poolin mining pool is supposed to be the best mining pool although its network share and hashrate are lower than BTC.com mining pool. From this analysis, we can see that the hash rate is not always a necessary factor in mining Bitcoin, there comes a bit of luck also. However, the mining pool with better hardware is always mandatory to mine Bitcoin. The table shows the BTC.TOP with lowest hashrate and the rank for the last 6 months is also low. This shows that higher hashrate increase the chances of mining to a greater extent but not guarantees it. Hash rate and hardware cost are not only factors that determine the mining profit and effectiveness of mining. The power consumption of each hardware and the electricity rate is also another determining factor of every miner and mining pool. There are different electricity rates in terms of power consumption by device per country. The cost to mine 1 Bitcoin based on the average Electricity rate per country is shown in Table 11 [38]. 55PDF Image | Analysis of Bitcoin Cryptocurrency and Its Mining Techniques
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