Foundry USA Pool, the world’s largest Bitcoin mining pool by hash rate, recently made headlines for returning a staggering 8.18 BTC transaction fee, valued at approximately $777,000. The overpayment occurred on December 19 during the mining of block 875475. In this instance, the sender accidentally submitted a fee that was 91,127 times higher than necessary, leading to an error of significant proportions.
After identifying the mistake, Foundry swiftly took action by contacting the sender and initiating the refund process. The mining pool reassured the public that the refund would not affect the payouts for its regular customers. In a statement to The MinerMag, Foundry explained that its payout system automatically disregards the three highest and three lowest transaction fees each day, ensuring that such an error would not impact the distribution of earnings.
This refund marks the second such occurrence in recent months. In November 2023, Antpool, another major Bitcoin mining pool, refunded a record-breaking $3 million Bitcoin fee that had been mistakenly overpaid due to a user error. The user had accidentally submitted 83 BTC as a transaction fee, prompting Antpool to freeze the fee and verify the sender’s identity before issuing a refund.
Foundry’s Bitcoin mining pool remains dominant, with a hash rate of 273.6 EH/s, which is more than double that of Antpool’s 146.7 EH/s. According to data from Hashrate Index, Foundry controls nearly 38% of the market share among Bitcoin pool operators, while Antpool holds 18%.
This latest development comes just weeks after Foundry underwent significant restructuring. The company laid off approximately 60% of its workforce as part of a “realignment” strategy. While core operations such as mining pool management were unaffected, the layoffs primarily impacted teams outside of the core business, including the entire ASIC repair and hardware teams.
Despite these changes, Foundry continues to assert its position at the forefront of the Bitcoin mining industry, maintaining a strong foothold in the competitive mining pool market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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