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What is Mining Pool?

Crypto Terms Glossary: What is Mining Pool?

A mining pool combines — or "pools" — the hash rate of the crypto miners that join it to mine blocks and distribute the associated block rewards. This is done so miners can have a more reliable rate of return on their mining and allows smaller mining operations to compete with larger mining farms. Mining pools are specific to a blockchain and typically charge a fee of 0 – 2% of all block rewards.

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