Bitcoin mining consumes approximately 1% of the world’s total electricity. This scale is comparable to the energy demand of a small country, raising an important question: given the resource intensity, does mining still justify itself in terms of profitability?

Recently, WhiteBIT conducted an experiment to evaluate the real-world profitability of various mining pools. Their findings, combined with my own experience, provide a clearer picture of how subtle differences in pool efficiency can translate into meaningful financial outcomes.

Profitability Beyond Hashrate

Hashrate represents the speed at which mining hardware performs calculations to discover a new block. While higher hashrates improve the probability of earning rewards, profitability is shaped by a combination of factors:

Key factors influencing mining profitability:

• Mining difficulty (adjusted every two weeks)
• Current block reward (3.125 BTC after the 2024 halving)
• Energy costs
• Market price of BTC
• Pool fees and payout models

The concept of hashprice — profit per terahash per day — captures this complexity. Hashprice depends not only on BTC price and network conditions but also on the chosen pool. Pool fees, payout structures (PPS, FPPS, PPLNS), and stability significantly influence the outcome. A high hashrate alone does not guarantee stable income without these considerations.

WhiteBIT’s Pool Comparison

To quantify profitability, WhiteBIT ran a week-long test using identical hardware (Antminer S21) across five pools: AntPool, F2Pool, WhitePool, Luxor, and ViaBTC. The hashprice was calculated as:

Hashprice = (reward - pool fee) / average daily hashrate

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Findings:

• WhitePool led the ranking every day, outperforming competitors by ~1.73%
• Luxor held second place consistently
• AntPool and ViaBTC showed mid-range performance
• F2Pool finished last on most days

To illustrate financial impact, a 100 PH/s miner on WhitePool would generate 0.34279718 BTC (~$41,135.66) per week, which is:

• $282 more than Luxor
• $866 more than F2Pool

While the percentage difference may seem minor, the cumulative effect over long-term, high-throughput operations is substantial. WhitePool also demonstrated superior stability, never dropping from the top position.

Independent Test: WhitePool in Practice

Before WhiteBIT’s official study, I tested WhitePool personally with an Antminer S21 (200 TH/s).

Setup and results:

• Configuration took approximately one hour
• Zero downtime or connectivity issues during the test period
• Simple and user-friendly interface for monitoring income
• Average daily profit: ~$10.38
• Earnings over 58 days: ~$600

Compared with other pools that appeared competitive on paper, WhitePool proved more reliable in real conditions. Stability and predictability outweighed theoretical marginal gains.

Conclusion

Mining profitability is determined not only by hashrate but by strategic pool selection and stable operations. WhiteBIT’s experiment, supported by independent testing, confirms that small efficiency differences can compound into meaningful long-term gains.

Key takeaways:

• Stable uptime and reliability are as critical as raw performance
• Transparent fee structures and payout models directly impact profitability
• Pool selection should be approached as a strategic decision, not an afterthought

For developers and miners considering Bitcoin mining today, the conclusion is clear: profitability comes from the intersection of technical efficiency, economic conditions, and intelligent pool management.

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