Bitcoin's mining centralization problem (Hashrate ≠ Freedom) - TL;DR
Hash power is coordinated by a small number of mining pools. At times, the top 2-3 pools reach or exceed 51%.
These pools decide which transactions go into blocks by setting templates and policies — including filters and OFAC (Office of Foreign Assets Control) lists.
Individual miners chasing predictable payouts delegate that power upstream.
As a result, a regulator only needs to influence a few pool operators, not thousands of ASIC owners.
https://controlplanecapital.com/p/bitcoins-mining-centralization-problem
Hash power is coordinated by a small number of mining pools. At times, the top 2-3 pools reach or exceed 51%.
These pools decide which transactions go into blocks by setting templates and policies — including filters and OFAC (Office of Foreign Assets Control) lists.
Individual miners chasing predictable payouts delegate that power upstream.
As a result, a regulator only needs to influence a few pool operators, not thousands of ASIC owners.
https://controlplanecapital.com/p/bitcoins-mining-centralization-problem
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