TL;DR
Seven major Bitcoin mining pools representing about 75% of the global hashrate have announced support for the open-source Stratum V2 protocol. This move shifts transaction selection power to individual miners, potentially enhancing decentralization. The development marks a significant step in the industry’s push for more distributed control.
Seven of the largest Bitcoin mining pools, controlling nearly 75% of the global hashrate, have announced their support for the open-source Stratum V2 protocol, marking a major move towards decentralization in Bitcoin mining.
The pools involved are Foundry, AntPool, F2Pool, SpiderPool, MARA Pool, Block Inc, and DMND. They announced their support last week, joining the Stratum V2 working group, which was founded in 2022 by Braiins and Spiral. Foundry alone accounts for 34.2% of the global hashrate, with AntPool at 14.2%, F2Pool at 11.3%, and SpiderPool at 10.5%, according to Hashrate Index data. Together, these pools represent nearly three-quarters of Bitcoin’s total hashrate.
Stratum V2 is an open protocol that changes how mining pools communicate with individual miners by enabling miners to construct their own block templates. This means miners can decide which transactions to include in each block, rather than leaving that decision to pool operators. The protocol has existed since 2022 but had limited adoption until now. The recent support from these major pools signifies a shift towards broader deployment and industry acceptance.
Why It Matters
This development is significant because it addresses long-standing concerns about centralization in Bitcoin mining. While the protocol does not reduce the overall concentration of hashrate, it shifts decision-making power regarding transaction inclusion to individual miners, potentially increasing decentralization and resilience of the network. The move also signals a growing industry push for transparency and distributed control, which could influence future regulatory and community debates about mining centralization.
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Background
Until now, the dominant standard for communication between pools and miners has been Stratum V1, which centralizes transaction selection within pools. The protocol’s limited adoption kept the status quo, despite ongoing concerns about large pools exerting influence over transaction ordering. The recent support from major pools coincides with ongoing economic pressures, as CoinShares estimates up to 20% of miners are unprofitable, and network difficulty is set to rise again on May 15, 2026, from 132.47T to 135.64T. The current network hashrate stands at 998 exahash per second.
This move comes amid broader industry discussions about decentralization and network security, with some experts viewing the support for Stratum V2 as a step toward mitigating risks associated with large pool dominance.
“The support from these major pools marks a pivotal moment in the push for more decentralized mining infrastructure.”
— Braiins, co-founder of the working group
“Adopting Stratum V2 allows miners more control over transaction inclusion, aligning with our commitment to transparency and decentralization.”
— AntPool spokesperson
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What Remains Unclear
It is still unclear how quickly these pools will fully implement Stratum V2 across their operations and what real-world impact this will have on transaction ordering and network decentralization. Additionally, the broader community’s response and potential regulatory implications remain to be seen.
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What’s Next
The pools are expected to begin deploying Stratum V2 in the coming months, with full adoption potentially influencing industry standards and discussions on network security. Monitoring how other pools and miners respond will be key to understanding the protocol’s long-term impact.
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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, shifting transaction selection from pool operators to miners.
Why is this move important?
It addresses concerns about centralization in Bitcoin mining by increasing the control miners have over transaction inclusion, potentially making the network more resilient and decentralized.
Will this reduce the concentration of Bitcoin hashrate?
No, it does not reduce overall hashrate concentration but shifts decision-making power within the mining process, which could influence decentralization dynamics.
When will the pools implement Stratum V2?
Specific timelines are still being determined, but the pools have indicated plans to begin deployment over the coming months.
Could this impact Bitcoin’s security or stability?
While the protocol aims to improve decentralization, its full impact on security remains to be seen as adoption progresses.
