F2Pool: A Pioneer in the Cryptocurrency Mining Industry
Founded in 2013, F2Pool is one of China’s earliest Bitcoin mining pools and one of the longest-standing and largest mining pools in the global cryptocurrency mining industry.As a leading provider of Proof-of-Work (PoW) cryptocurrency mining infrastructure, F2Pool is committed to providing miners with efficient and stable mining services, helping them participate in blockchain networks and earn rewards.
Core Services and Supported Cryptocurrencies
F2Pool offers a wide range of services, providing mining support for over 40 PoW cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), Zcash (ZEC), and Dogecoin (DOGE). Its core services include:
- Real-time Monitoring: Provides real-time data on miner operational status and earnings.
- Diverse Reward Distribution Models: Supports multiple models such as PPS (Pay-Per-Share), FPPS (Full Pay-Per-Share), and PPLNS (Pay-Per-Last-N-Shares) to meet the needs of different miners.
- Protocol Support and Wallet Integration: Ensures compatibility with mainstream mining protocols and provides convenient wallet integration solutions.
- APIs and Developer Tools: Provides customized services and data interfaces for institutional clients and developers.
Market Position and Hashrate Share
F2Pool holds a significant position in the global mining market. As of September 23, 2026, F2Pool’s real-time Bitcoin hash rate was approximately 143.41 EH/s, accounting for 15.52% of the global Bitcoin network’s total hash rate and ranking third.Historically, F2Pool has repeatedly demonstrated its strong hashrate advantage. For example, in 2014, it surpassed GHash.IO to become the largest BTC and LTC mining pool, at one point accounting for as much as 30% of the Bitcoin network’s hashrate.In 2016, it was also the largest mining pool on the Ethereum network, accounting for 25% of the network’s hashrate.
Key Milestones and Recent Developments
F2Pool has achieved several key milestones and demonstrated continuous innovation throughout its development:
- 2024 Merger and Enhanced Compliance: F2Pool merged with Stakefish and now operates under Fram Farm Inc., aiming to strengthen global operations and compliance while further solidifying its market leadership.
- Founder’s Spaceflight: On April 1, 2025, F2Pool co-founder Wang Chun completed an orbital spaceflight as a member of the SpaceX Fram2 mission, becoming the first person from the crypto industry to travel to space.
- SOC 2 Type II Certification: F2Pool has obtained SOC 2 Type II certification, which attests to its adherence to internationally recognized high standards for security and operational practices.
- Global Business Expansion: In December 2023, F2Pool launched cryptocurrency mining pool services in Kazakhstan, expanding its international market presence.
- New Merge Mining Support: In March 2025, F2Pool added CRC (CraftCoin) to its Litecoin (LTC) merge mining; in August 2024, it began supporting Bellscoin (BEL) as a merge mining currency for Litecoin (LTC).
- Bitcoin Halving Commemoration: In 2020, F2Pool mined the final block (block 629,999) before Bitcoin’s third halving, including a message paying tribute to Satoshi Nakamoto’s genesis block.
Compliance and Regional Policies
In response to changes in the global regulatory environment, F2Pool has taken appropriate compliance measures. In September 2021, F2Pool announced that it would cease providing services to users in mainland China and may freeze or terminate accounts originating from mainland China. This move demonstrates its ability to adapt to regulatory requirements across different jurisdictions.
Controversies and Challenges
As an industry giant, F2Pool has also faced some controversies:
- Allegations of Transaction Censorship: Between November 2023 and March 2025, F2Pool was accused of censoring transactions related to addresses sanctioned by the U.S. Office of Foreign Assets Control (OFAC), sparking intense debate within the Bitcoin community regarding the principle of “censorship resistance.”Co-founder Wang Chun stated that the filtering patch had been temporarily disabled pending community consensus.
- Paxos Overpayment Incident: In September 2023, Paxos mistakenly paid F2Pool a massive transaction fee of 19.8 BTC (approximately $520,000).After verifying the transaction, F2Pool chose to refund the fees. While this move was praised, it also sparked discussions regarding mining pools’ control over blocks and the principle of blockchain immutability.
- Centralization Concerns: Due to its massive share of computing power, F2Pool—like other large mining pools—has raised concerns among some community members about driving the centralization of Bitcoin mining, which could pose potential risks to the Bitcoin network.
Founders and Fee Structure
F2Pool was co-founded by Chun Wang and Shixing Mao (also known as “Yuge”).In terms of fees, the mining fee rate for Bitcoin (BTC) is 2.5%, while the rates for Litecoin (LTC), Dogecoin (DOGE), and Ethereum Classic (ETC) are 3%. The fee rate for the FPPS payment model is 4%, and for the PPLNS payment model, it is 2%.The minimum withdrawal amount varies by cryptocurrency; for example, it is 0.005 BTC for Bitcoin and 0.1 LTC for Litecoin.
Conclusion
With its long history, extensive range of services, and continuous innovation, F2Pool maintains a leading position in the cryptocurrency mining sector. Although the industry’s development has been accompanied by regulatory challenges and debates over decentralization, F2Pool continues to shape the global mining ecosystem through proactive adaptation, technological upgrades, and responsible business practices.
