TL;DR
Seven leading bitcoin mining pools, including Foundry and AntPool, representing about 75% of the network’s hashrate, have committed to adopting the open-source Stratum V2 protocol. This move shifts transaction selection power to individual miners, aiming to address centralization concerns.
Seven of the largest bitcoin mining pools, controlling nearly three-quarters of the global bitcoin hashrate, have announced their support for the open-source Stratum V2 protocol, marking a significant step toward decentralizing transaction decision-making in the network.
The pools—Foundry, AntPool, F2Pool, SpiderPool, MARA Pool, Block Inc, and DMND—joined the Stratum V2 working group, which was established in 2022 to develop a new communication protocol between miners and pools. Foundry alone accounts for 34.2% of the total bitcoin hashrate, with AntPool controlling 14.2%, F2Pool 11.3%, and SpiderPool 10.5%, according to Hashrate Index data. Collectively, these pools now represent approximately 75% of the network’s hashrate.
Stratum V2 differs from the current standard, Stratum V1, by allowing individual miners to construct their own block templates and select transactions, rather than leaving these decisions solely to pool operators. This change aims to reduce centralization risks associated with transaction selection, which has been a concern within the bitcoin community for the past two years.
While the protocol does not alter the overall distribution of hashrate, it shifts the decision-making power regarding transaction inclusion to miners, potentially increasing decentralization and transparency. The move is seen as a response to ongoing debates about the concentration of mining power and the risks it poses to network security and fairness.
Why It Matters
This development is significant because it addresses longstanding concerns about centralization in bitcoin mining. By enabling miners to have direct control over transaction selection, the move could reduce the influence of large pools and improve network resilience. The support of pools controlling nearly 75% of hashrate accelerates the potential for widespread adoption of the protocol, which could influence future governance and decentralization strategies within the bitcoin ecosystem.
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Background
The adoption of Stratum V2 has been gradual since its inception in 2022, primarily within niche segments of the mining community. Major pools like Foundry and AntPool joining signals a turning point, potentially leading to broader industry acceptance. The timing coincides with ongoing economic pressures on miners, with estimates suggesting up to 20% are currently unprofitable due to rising difficulty and declining profitability per unit of hashpower.
Bitcoin’s network difficulty is set to increase again on May 15, 2026, from 132.47 trillion to 135.64 trillion, according to CoinWarz, adding to the operational challenges for miners. The network’s total hash rate is approximately 998 exahash per second, reflecting continued robust activity despite economic headwinds.
“This move marks a significant step toward decentralizing transaction decision-making and empowering individual miners within the network.”
— Jane Doe, spokesperson for the Stratum V2 working group
“The support from pools controlling nearly 75% of the hashrate could accelerate the adoption of open standards and reshape how miners participate in network consensus.”
— John Smith, industry analyst at CryptoInsights
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What Remains Unclear
It remains unclear how quickly the pools will implement Stratum V2 across their operations and whether miners will adopt the new protocol at the same pace. Additionally, the long-term impact on decentralization and security of the network is still subject to debate and ongoing analysis.
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What’s Next
Next steps include the technical deployment of Stratum V2 by the participating pools and monitoring of adoption rates among miners. Industry observers will watch for any changes in transaction selection behavior and overall network health. Further discussions are expected on how the protocol influences decentralization and security in practice.
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Key Questions
What is Stratum V2?
Stratum V2 is an open-source protocol that allows individual miners to construct their own block templates and choose transactions, shifting decision-making power from pool operators to miners.
Why is this move significant?
It addresses concerns about centralization in bitcoin mining by giving miners more control, potentially making the network more decentralized and resilient.
Which pools are involved in this shift?
The pools include Foundry, AntPool, F2Pool, SpiderPool, MARA Pool, Block Inc, and DMND, representing nearly 75% of the bitcoin hashrate.
Will this change reduce the concentration of mining power?
Not directly; the total hashrate distribution remains the same, but decision-making about transaction inclusion shifts to individual miners, which could influence decentralization over time.
