7 Best Ethereum Mining Pool in 2022 – Mining Pools List

Are you looking for the best Ethereum mining pool?

Looking to get into mining Ethereum, the first thing is to choose the mining pools that can be mine with GPU, CPU, & ASIC.

If you are new to mining, you should know that Ethereum is chaining to proof of stake.

I have explained proof of stake further in this blog. 

If you want to start mining, wait until after ETH 2.0, released in 2022. If mining is still profitable after ETH 2.0, that’s the time to buy GPUs or ASICs or whatever fits with your risk tolerance.

Best Mining Pools

Here is the list to Choosing best mining pool Ethereum:

1. Payout Method – If you are a smaller miner, you cannot solo mine the block, so you have to join the pool, so you are mining with another miner, and the pool has to determine how much you have put work. Most mining pools work on PPLNS, where you get payouts when you find a block and some transaction fees.
2. Hashrates – You should always have a mining pool that has the highest hashrates. Hashrates are basically to measure the computational power per second. For example, 1 Mhash/s indicates 1 million hash calculations are done every second.
3. Pool Fees – As you also know, go with the low pool fees always. 

Above three is the major factor before choosing a mining pool. If you don’t care about hash rates, selecting a pool with low fees and payout should take less time, like payout should be initiated within 4hours.

Ethereum Mining Pools List

1. Binance Pool
2. Ethermine
3. Nanopool
4. F2Pool
5. Spark Pool
6. Huobi Pool
7. Hiveon Pool 

1. Binance Pool 

Binance is the top cryptocurrency exchange in the world which also provides mining pools. Binance Pool has two types of the algorithm, which are SHA256 & ETHASH. 

With the SHA256 algorithm, you can mine Bitcoin (BTC), Bitcoin Cash (BCH) & Bitcoin SV (BSV). With the ETHASH algorithm, you can mine Ethereum (ETH).

Binance Smart Pool is secure and transparent, and it has FPPS, PPS+ model, and instant settlements.

2. Ethermine

Etherimine has high-performance mining pools that are located in Europe, Asia, and North America. It has the highest hashrates, which is 120 TH/s. It covers almost 20% of the Ethereum mining network.

With an Ethermine pool, you can also mine Ethereum (ETH), Raven Coin (RVN), Zcash (ZEC), Ethereum Classic (ETC) & Beam (BEAM). 

Pool fee works on PPLNS Model.

• PPLNS is pay-per-last-N-shares, where N is some number.
• PPS is pay per share, usually round-based

3. Nanopool 

Nanopool is one of the user-friendly mining pools where you get easy access to the configuration. 

It provides mining pools cryptocurrency like Raven Coin (RVN), Zcash (ZEC), Ethereum Classic (ETC), Monero (MNR), Conflux (CFX), & Ergo (ERGO).

It works on PPLNS (pay-per-last-N-shares) mode, and pool mining fees are 1%.

In nanopool, Ethereum mining works on the DaggerHashimoto algorithm.

4. F2pool 

F2Pool is the biggest mining pool with 10% of hash rates of the Ethereum network. 

It is also the biggest miner with close to 1/5th of the total hashrate signals for Taproot! (Bitcoin upgrading to Taproot)

It is also the oldest mining pool in the crypto world; they have been working since 2013.

They provide multiple cryptocurrency mining pools. The main thing is it prevents the attack from DDoS attacks.

F2pool charges 2% fees for Ethereum mining, and it has a PPS model for payout.

5. Spark Pool

Spark pool is one of the largest mining pools which is located in china. They have a 27% network hash rate, 150 TH/s, so China is mining almost 27% of Ethereum. 

Sparkpool has an app where you can check your mining details, and it helps a person who travels most of the time. App provides real-time hashrates and rewards. In the app, you can also store the mining coin.

It has a model of pay-per-shares and charges 1% mining pool fees.

6. Huobi Pool

Huobi Mining Pool is based in China, and they also have an exchange where you can buy and sell cryptocurrencies. 

It has a model of pay-per-shares. 

7. Hiveon

Hiveon is the most efficient mining pool for ETH, ETC. High-profit payouts with the PPS+ model. 

It has minimum payouts of 0.1 Eth, which will be paying every day.

Currently, they have 0% mining pool fees because they are new and want to acquire users.

The above best mining pools for Ethereum are listed in the form of hashrates and low mining fees.

As you can see, most of the network hash rate comes with three mining pools: Sparkpool, Ethermine & F2Pool.

What is Ethereum Mining?

Crypto mining, in general, works on proof of work concept; similarly, Ethereum mining also works on proof of work.

In proof of work, miners invest their resources which solve a complicated puzzle on their computer processing power using GPU AND CPU. Miners solve the difficulties, and they get rewards.

But after the new update of Ethereum 2.0 in 2022, it will switch to proof of stake.

Here is proof of stake explained quickly.

In proof of stake, no power consumption and resources are needed, and miners are not rewarded. 

So the Ethereum is changing to proof of stake that means the user stake there and validator all transactions. In return, the validator will get rewards.

Ethereum EIP 1559

EIP, which stands for Ethereum Improvement Proposal, is coming in July 2022. 

You know the Ethereum gas fees are very high, and to solve this problem, Vitalik Buterin came up with EIP until Ethereum 2.0 gets launched.

EIP will solve the gas problem in the Ethereum blockchain. 

Currently, the Ethereum fee mechanism works on proof of work where miners validate the transaction and get rewards. People who do transactions pay gas fees which get to the miner.

So in EIP 1559, the fee structure will be a base fee charge which will be the same for all. The eth token from the base fee will get burned, and the Ethereum market supply will also get reduced.

Also, people can give tips to the miner to process the transaction fast.

Base fee will be there, and if you want fast processing, you have to add a tip.

It was the basics, and there is so much to learn in this. So I will make a separate article on this.

FAQ

How to join a mining pool Ethereum

Here is a step you have to follow to join a mining pool for eth:

1. Visit the mining pool.
2. Download the algorithm.
3. Edit the .bat file.
4. Put the eth address on the .bat file.
5. Enter the port properly.
6. Run the .bat file.

After some time, visit the pool, and there you will get all the details of payouts of your eth mining.

How to make an Ethereum mining pool

Making a mining pool for Ethereum is easy to do but requires technical knowledge. Here is the step to follow to make your own Ethereum mining pools

Step 1: Purchase Good VPS Hosting. 

Step 2: Set Up OS. 

Step 3: Install Dependencies.

Step 4: Install Ethereum.

Step 5: Compile pool.

Step 6: Configure the pool

Step 7: Run the pool.

Step 8: Make a Simple Web interface.

How does an Ethereum mining pool payout

Ethereum mining pools payout has two modes: PPS (pay per share) and PPLNS (pay-per-last-N-shares).

How to choose an Ethereum mining pool

Before choosing a mining pool Ethereum you must consider this thing given below:

• Payout Method
• Hashrates
• Pool Fees