Why Do Large Bitcoin Miners Still Choose Foundry USA Pool? :-\

[FP91G]

Power is definitely the biggest expense for most miners.
For us, pool choice is more about reliability than squeezing out a tiny fee difference. Good uptime and low rejects add up over time.
I’d rather not say our exact power rate but we are running comfortably still. As for the halving, we're just focusing on efficiency and stacking BTC. I agree that if BTC price stays where it is and difficulty keeps climbing, 5¢ power gets a lot harder to make work.

Don't mention the price of electricity if it could compromise your interests.
Recent reports from large US companies showed a minimum price of 4 cents, but this is likely just accounting data and not the actual price.
In Russia, if you operate legally, the price is currently 6-8 cents, depending on the volume consumed. You can only get 4 cents by installing your own transformers, which step down from 10,000 volts to 220.

[hashradar]

Power is definitely the biggest expense for most miners.
For us, pool choice is more about reliability than squeezing out a tiny fee difference. Good uptime and low rejects add up over time.
I’d rather not say our exact power rate but we are running comfortably still. As for the halving, we're just focusing on efficiency and stacking BTC. I agree that if BTC price stays where it is and difficulty keeps climbing, 5¢ power gets a lot harder to make work.

Don't mention the price of electricity if it could compromise your interests.
Recent reports from large US companies showed a minimum price of 4 cents, but this is likely just accounting data and not the actual price.
In Russia, if you operate legally, the price is currently 6-8 cents, depending on the volume consumed. You can only get 4 cents by installing your own transformers, which step down from 10,000 volts to 220.

That’s another reason why mining economics can look very different from the outside.

Two operations can be running the same hardware and mining on the same pool, but a difference of just a few cents per kWh completely changes the economics.

In that situation, it’s interesting that miners still spend so much time debating pool fees. Electricity usually has a much bigger impact on profitability, yet pool selection still gets a lot of attention.

[FP91G]

Power is definitely the biggest expense for most miners.
For us, pool choice is more about reliability than squeezing out a tiny fee difference. Good uptime and low rejects add up over time.
I’d rather not say our exact power rate but we are running comfortably still. As for the halving, we're just focusing on efficiency and stacking BTC. I agree that if BTC price stays where it is and difficulty keeps climbing, 5¢ power gets a lot harder to make work.

Don't mention the price of electricity if it could compromise your interests.
Recent reports from large US companies showed a minimum price of 4 cents, but this is likely just accounting data and not the actual price.
In Russia, if you operate legally, the price is currently 6-8 cents, depending on the volume consumed. You can only get 4 cents by installing your own transformers, which step down from 10,000 volts to 220.

That’s another reason why mining economics can look very different from the outside.

Two operations can be running the same hardware and mining on the same pool, but a difference of just a few cents per kWh completely changes the economics.

In that situation, it’s interesting that miners still spend so much time debating pool fees. Electricity usually has a much bigger impact on profitability, yet pool selection still gets a lot of attention.

Larger companies typically win, as they consume more electricity and have lower prices, and the pool will therefore offer these companies the maximum discount.

The most profitable option is to build your own power generation facility near the mining farm and enjoy the lowest electricity prices.

[Welsh]

2- don't understand how mining works so they'd rather be 'safe' and go with a large known pool to guarantee income.

I imagine anyone who has the required hash rate to be even allowed into these pools, must understand a little bit about mining right? You'd like to think so at least.

That’s another reason why mining economics can look very different from the outside.

Two operations can be running the same hardware and mining on the same pool, but a difference of just a few cents per kWh completely changes the economics.

A lot of Bitcoin's mining is centralised to certain countries because of this. For example, mining for a profit in the UK, just isn't going to be profitable vs the USA. No doubt the bigger pools and more exclusive ones have better deals than the grid, but if you compare what a quick Google search brings up:

USA = $0.16 to $0.19 per kWh
UK = 26.11p per kWh (around $0.35 per kWh)

So you're potentially looking at double the costs.

In that situation, it’s interesting that miners still spend so much time debating pool fees. Electricity usually has a much bigger impact on profitability, yet pool selection still gets a lot of attention.

Some of its got to do with the 'status' that comes with being a part of a exclusive pool too I think.

Larger companies typically win, as they consume more electricity and have lower prices, and the pool will therefore offer these companies the maximum discount.

The most profitable option is to build your own power generation facility near the mining farm and enjoy the lowest electricity prices.

And will always win. As mentioned above mining has become more and more centralised to the 'elite' the more time goes on. Its not only limited by country, but by access to hardware, logistics and know how since someone has to be able to repair these miners. From what I can gather a lot of the mining farms are located rural, and are supplied by privately owned electricity. Not something that a lot of European countries are able to do  for example.

[FP91G]

Larger companies typically win, as they consume more electricity and have lower prices, and the pool will therefore offer these companies the maximum discount.

The most profitable option is to build your own power generation facility near the mining farm and enjoy the lowest electricity prices.

And will always win. As mentioned above mining has become more and more centralised to the 'elite' the more time goes on. Its not only limited by country, but by access to hardware, logistics and know how since someone has to be able to repair these miners. From what I can gather a lot of the mining farms are located rural, and are supplied by privately owned electricity. Not something that a lot of European countries are able to do  for example.

In rural areas, tariffs offer good discounts, but the problem is that most of the wires and transformers are old. For local mining, 10-15 kilowatts is fine, but large-scale projects won't work.
Electricity prices in Europe start at 15 cents, making mining unprofitable. However, in the US, electricity prices start at 20 cents per kilowatt, while mining companies buy it for 4-6 cents, according to public reports.

[philipma1957]

Larger companies typically win, as they consume more electricity and have lower prices, and the pool will therefore offer these companies the maximum discount.

The most profitable option is to build your own power generation facility near the mining farm and enjoy the lowest electricity prices.

And will always win. As mentioned above mining has become more and more centralised to the 'elite' the more time goes on. Its not only limited by country, but by access to hardware, logistics and know how since someone has to be able to repair these miners. From what I can gather a lot of the mining farms are located rural, and are supplied by privately owned electricity. Not something that a lot of European countries are able to do  for example.

In rural areas, tariffs offer good discounts, but the problem is that most of the wires and transformers are old. For local mining, 10-15 kilowatts is fine, but large-scale projects won't work.
Electricity prices in Europe start at 15 cents, making mining unprofitable. However, in the US, electricity prices start at 20 cents per kilowatt, while mining companies buy it for 4-6 cents, according to public reports.

my winter power cost at my house went from 14 to 20 cents.

when I mine in my garage in the winter i get. 4 cent heat benefit

so I was net 11 cents in the winter and now net 16 cents

so all mining at home in the winter is a loser.

and worse at home in the summer.

i am a few dollars ahead at the host in Iowa.

[FP91G]

Larger companies typically win, as they consume more electricity and have lower prices, and the pool will therefore offer these companies the maximum discount.

The most profitable option is to build your own power generation facility near the mining farm and enjoy the lowest electricity prices.

And will always win. As mentioned above mining has become more and more centralised to the 'elite' the more time goes on. Its not only limited by country, but by access to hardware, logistics and know how since someone has to be able to repair these miners. From what I can gather a lot of the mining farms are located rural, and are supplied by privately owned electricity. Not something that a lot of European countries are able to do  for example.

In rural areas, tariffs offer good discounts, but the problem is that most of the wires and transformers are old. For local mining, 10-15 kilowatts is fine, but large-scale projects won't work.
Electricity prices in Europe start at 15 cents, making mining unprofitable. However, in the US, electricity prices start at 20 cents per kilowatt, while mining companies buy it for 4-6 cents, according to public reports.

my winter power cost at my house went from 14 to 20 cents.

when I mine in my garage in the winter i get. 4 cent heat benefit

so I was net 11 cents in the winter and now net 16 cents

so all mining at home in the winter is a loser.

and worse at home in the summer.

i am a few dollars ahead at the host in Iowa.

It's very inconvenient to have ASICs in the garage and making noise, so I use a location where I don't live. It's much cheaper than adapting the cooling system to accommodate heating in the winter and other tasks in the summer.
This system requires constant monitoring and maintenance, so it's better to use a separate location and install air-cooled ASICs there.

[philipma1957]

Larger companies typically win, as they consume more electricity and have lower prices, and the pool will therefore offer these companies the maximum discount.

The most profitable option is to build your own power generation facility near the mining farm and enjoy the lowest electricity prices.

And will always win. As mentioned above mining has become more and more centralised to the 'elite' the more time goes on. Its not only limited by country, but by access to hardware, logistics and know how since someone has to be able to repair these miners. From what I can gather a lot of the mining farms are located rural, and are supplied by privately owned electricity. Not something that a lot of European countries are able to do  for example.

In rural areas, tariffs offer good discounts, but the problem is that most of the wires and transformers are old. For local mining, 10-15 kilowatts is fine, but large-scale projects won't work.
Electricity prices in Europe start at 15 cents, making mining unprofitable. However, in the US, electricity prices start at 20 cents per kilowatt, while mining companies buy it for 4-6 cents, according to public reports.

my winter power cost at my house went from 14 to 20 cents.

when I mine in my garage in the winter i get. 4 cent heat benefit

so I was net 11 cents in the winter and now net 16 cents

so all mining at home in the winter is a loser.

and worse at home in the summer.

i am a few dollars ahead at the host in Iowa.

It's very inconvenient to have ASICs in the garage and making noise, so I use a location where I don't live. It's much cheaper than adapting the cooling system to accommodate heating in the winter and other tasks in the summer.
This system requires constant monitoring and maintenance, so it's better to use a separate location and install air-cooled ASICs there.

my asics are quiet I use special fans and down clock a bit you can't hear them.

this fan
https://www.zeusbtc.com/ASIC-Miner-Repair/Parts-Tools-Details.asp?ID=3889

with this controller

https://altairtech.io/product/epic-umc-universal-mining-control-board/

and sound for a s19 or a t19 or a s21 or a t21 is a non issue.

[Welsh]

It's very inconvenient to have ASICs in the garage and making noise, so I use a location where I don't live. It's much cheaper than adapting the cooling system to accommodate heating in the winter and other tasks in the summer.
This system requires constant monitoring and maintenance, so it's better to use a separate location and install air-cooled ASICs there.

I'm curious, is this somewhere you still have access too so you chuck your mining equipment in there, and then periodically go there for maintenance etc or is this like a place where you are renting miners?

I can see having a container like a 12 or 24 footer and just chucking a bunch of miners in there, with some custom cooling solutions could be a neat idea. You're probably looking at £110-125 per month for a rented container, and modifications are restricted. Though, if you have a plot of land or even space on your primiary living space....a container runs about £2500-5000 and could double as storage for other things also.

[mikeywith]

I imagine anyone who has the required hash rate to be even allowed into these pools, must understand a little bit about mining right? You'd like to think so at least.

The majority of money comes from investors who seek bitcoin exposure or asset manager/hedge funds who understand nothing but balance sheets, if MARA is making good enough money on paper -- money keeps pouring in, otherwise none of them gives a shit about the extra 1% fee they pay to mining pools.

You may think this is an overestimation of how things actually work but it's not, I can tell you with complete certainty that the number of people who truely understand the math behind mining can all fit in one single bedroom appartment. but in this world, you don't always need knowledge, money makes more money, I understand how mining works better than most CEOs who run those multi billion mining firms, however, I am broke as fuck and they are rich as fuck because they understand "money" way better than I do.

[FP91G]

my asics are quiet I use special fans and down clock a bit you can't hear them.

this fan
https://www.zeusbtc.com/ASIC-Miner-Repair/Parts-Tools-Details.asp?ID=3889

with this controller

https://altairtech.io/product/epic-umc-universal-mining-control-board/

and sound for a s19 or a t19 or a s21 or a t21 is a non issue.

Buying a $140 controller to reduce ASIC noise is not the Russian way I'd rather make a wooden noisebox for a few dozen dollars.

It's very inconvenient to have ASICs in the garage and making noise, so I use a location where I don't live. It's much cheaper than adapting the cooling system to accommodate heating in the winter and other tasks in the summer.
This system requires constant monitoring and maintenance, so it's better to use a separate location and install air-cooled ASICs there.

I'm curious, is this somewhere you still have access too so you chuck your mining equipment in there, and then periodically go there for maintenance etc or is this like a place where you are renting miners?

I can see having a container like a 12 or 24 footer and just chucking a bunch of miners in there, with some custom cooling solutions could be a neat idea. You're probably looking at £110-125 per month for a rented container, and modifications are restricted. Though, if you have a plot of land or even space on your primiary living space....a container runs about £2500-5000 and could double as storage for other things also.

I'll try to explain it using your prices. In Russia, for £5,000, you'll buy a nice old house with 10 acres of land in the countryside and a consumption limit of up to 25 kilowatts. You can find a house where there are no neighbors, or where they rarely come on holiday. In Russia, this is the only way to get discounted electricity. Now, rates in garage cooperatives have been raised to the level of city rates, 8 cents.
There are plenty of options for renting a house for under $100 per month, but that's typically about 50 km outside the city or further.

[hashradar]

We recently moved around 550 PH/s of SHA-256 hashrate and have been analyzing different Bitcoin mining pools, including Foundry USA Pool.

One thing we are still trying to understand is why many miners continue choosing Foundry, considering that their fees seem relatively high and, in some comparisons, the net rewards can appear lower than what other pools are offering.

For those who are currently mining with Foundry, or have mined there before:

Why did you choose Foundry?
Are you staying because of reliability, payout consistency, institutional trust, compliance, reporting, support, or something else?
Have your real net rewards been better there compared to Luxor, AntPool, ViaBTC, Braiins, Binance Pool, etc.?

This is not meant as criticism. We are genuinely trying to understand the practical reasons from miners who have real experience with Foundry, especially at larger hashrate levels.

Any honest feedback would be appreciated.
 

To actually put numbers on dingominer's original question, since the thread's been mostly anecdotes so far.

I track net sat/PH/day across pools from independent measurement rather than self-reported stats, and the premise in the OP holds up better than you'd expect. Over the last 90 days the majors are all sitting at 100% uptime - Foundry, AntPool, F2Pool, ViaBTC - so reliability isn't really the thing separating them; they all clear that bar. Where they split is net output, and Foundry's 0% headline doesn't put it at the top of the net table once real payouts are measured. Right now the low-fee FPPS pools lead it - Headframe at 0.9% is sitting at the top of net sat/PH/day, a touch above the 4% majors, while Foundry lands below that cluster despite the 0% label. Numbers move through the day, but that ordering has been pretty steady.

That said, DaveF's point is the real asterisk on all of this. The published fee on a big pool often isn't what the whale is actually paying - private stratum, a negotiated fee, dedicated fiber, none of that shows up in any public comparison. So a 550 PH operator's real Foundry deal can look nothing like the retail number the rest of us see.

So I'd split it two ways. If you're being offered a custom institutional deal, the public comparison is meaningless and you optimize on the contract terms. If you're paying retail like most miners, the net-output gap is real money at 550 PH and worth measuring over a month rather than trusting the fee label.

dingominer, when you ran your own comparison - were you looking at advertised fee, or measured net over time?

[philipma1957]

We recently moved around 550 PH/s of SHA-256 hashrate and have been analyzing different Bitcoin mining pools, including Foundry USA Pool.

One thing we are still trying to understand is why many miners continue choosing Foundry, considering that their fees seem relatively high and, in some comparisons, the net rewards can appear lower than what other pools are offering.

For those who are currently mining with Foundry, or have mined there before:

Why did you choose Foundry?
Are you staying because of reliability, payout consistency, institutional trust, compliance, reporting, support, or something else?
Have your real net rewards been better there compared to Luxor, AntPool, ViaBTC, Braiins, Binance Pool, etc.?

This is not meant as criticism. We are genuinely trying to understand the practical reasons from miners who have real experience with Foundry, especially at larger hashrate levels.

Any honest feedback would be appreciated.
 

To actually put numbers on dingominer's original question, since the thread's been mostly anecdotes so far.

I track net sat/PH/day across pools from independent measurement rather than self-reported stats, and the premise in the OP holds up better than you'd expect. Over the last 90 days the majors are all sitting at 100% uptime - Foundry, AntPool, F2Pool, ViaBTC - so reliability isn't really the thing separating them; they all clear that bar. Where they split is net output, and Foundry's 0% headline doesn't put it at the top of the net table once real payouts are measured. Right now the low-fee FPPS pools lead it - Headframe at 0.9% is sitting at the top of net sat/PH/day, a touch above the 4% majors, while Foundry lands below that cluster despite the 0% label. Numbers move through the day, but that ordering has been pretty steady.

That said, DaveF's point is the real asterisk on all of this. The published fee on a big pool often isn't what the whale is actually paying - private stratum, a negotiated fee, dedicated fiber, none of that shows up in any public comparison. So a 550 PH operator's real Foundry deal can look nothing like the retail number the rest of us see.

So I'd split it two ways. If you're being offered a custom institutional deal, the public comparison is meaningless and you optimize on the contract terms. If you're paying retail like most miners, the net-output gap is real money at 550 PH and worth measuring over a month rather than trusting the fee label.

dingominer, when you ran your own comparison - were you looking at advertised fee, or measured net over time?

headframe has 76ph which means over a month to hit a block.

small pools with under 1% of the network struggle.

the network is around 900eh

1% of that is 9eh

if you are at 1% you should hit about 3 blocks every two days.

head frame at 76ph vs 9000ph for 1 percent as 9000ph is 9eh

should hit three blocks in 9000/76= 110x2 about 220 days.


220 days to get 3 blocks is a long time

pretend I add an entire container of S21xps 300x270=81,000 th or 81 eh


effectively 2x the current hash rate.

we should hit 3 blocks in 110 days

so as a real player (a filled container) is over 1,000,000 in gear why run it at tiny little pool.

The pool owner may simply be trying to lure me in hit a block and run for a quick 200k


i can go to viabtc or any major pool and be sure of payment.

or go to headframe and face bad luck and not getting paid.

[OgNasty]

I would never choose a pool with KYC.

Which pool or pools do you recommend?

[FP91G]

I would never choose a pool with KYC.

Which pool or pools do you recommend?

I think you know about this site:
https://miningpoolstats.stream/
The best recommendation is to ask miners in your country in the chat which pools from this list are best to use.
In Russia, many pools perform worse due to sanctions, so some recommendations apply to us, while completely different ones apply to you.