Parasite Mining Pool Strikes Again, Finding Its Second Bitcoin Block

A pioneering bitcoin mining pool, designed to challenge conventional pay-per-share and pure lottery models, has demonstrated the effectiveness of its approach by mining its second block. On Friday, Parasite Pool mined block 945,601, roughly 48 days after its first block at #938,713 in late February. This block contained 7,398 transactions and earned 0.002 BTC in fees, with bitcoin trading at $76,213. The pool operates under a hybrid model, where the winning miner receives 1 BTC, and the remaining 2.125 BTC, plus fees, are distributed proportionally among participants based on their shares since the previous block. Notably, participation in this pool is free, and payouts are made through the Lightning Network. The current block reward of 3.125 BTC, valued at approximately $238,000, is set to decrease over time. Founded by ZK Shark, the creator of the Ordinal Maxi Biz NFT collection, Parasite targets home miners and offers an alternative to industrial-scale mining operations. By splitting the block reward, Parasite aims to provide a steady income stream for participants, even during periods without a block discovery. The pool's hashrate currently stands at 52 petahashes per second, accounting for roughly 0.005% of the bitcoin network's estimated 1-zetahash hashrate. With its second block, Parasite has validated its model, and a third block within the next two months would further solidify its approach.