Detecting network latency, centralization patterns, and block races
We tested three hypotheses about whether mining pools hold structural advantages: anomalous streak frequency, header-first (spy) mining, and undisclosed hashrate. The five acts below follow the evidence — from incident, to mechanism test, to behavioral verdict, to coordination signals, and finally to identity fingerprints. Each signal is assessed on its own terms; where the data clears a hypothesis, that finding is stated plainly.
How to read it: This table logs anomalous mining streaks where a single pool successfully mined 6 or more consecutive blocks. It details the pool involved, the length of the streak, the exact block height it started, and the total duration it took to mine those blocks.
Key Insights:
How the numbers are calculated: The % era avg shown next to each pool is the block-weighted average share from that pool's first qualifying streak month through present — so each pool's baseline starts when it first became relevant, not at a common fixed date. This keeps the propensity denominator honest. The “1 in X Yrs” likelihood for each individual streak uses the pool's actual monthly hash share at the time of that event, so a streak that happened when Foundry was at 31% uses 31%, not the era average.
How to read it: Under a fair, memoryless mining process, each pool's probability of winning any given block equals its hash share. That means P(same pool mines block N+1 | same pool just mined block N) = hash share exactly — the 1× baseline. Bars longer than 1× mean a pool converts a first block into a second block more often than chance allows.
Methodology: The expected baseline uses each pool's block-weighted average share computed month-by-month. A pool's share at the time of each block is what sets the fair expectation — not a flat average over a multi-year window where that pool's hashrate was very different. No pool in the dataset exceeds a 1.12× lift on this basis.
Key Insights:
How to read it: This chart shows the distribution of inter-block time gaps for consecutive same-pool blocks, broken into time buckets. Under a random (memoryless) mining process, inter-block times follow an exponential distribution with mean 600s — implying a natural sub-30s rate of ~4.88% and a median gap of ~416s.
Key Insights:
How to read it: The quadrant matrix plots each pool's empty block rate since 2022 (X-axis) against their last-30-day rate (Y-axis). The dotted diagonal is the "no change" reference — pools above it are getting worse, pools below it are improving. Threshold lines mark the network-weighted average.
Quadrants:
Streak counts above expectation, but within plausible variance; spy-mining hypothesis not supported. Foundry USA's 7+ block streak count exceeds the block-weighted Poisson expectation — but the number of qualifying events is small, and the excess falls within random variance for a rapidly-growing pool. More importantly, their Second Block Uplift sits at baseline (~1.0×) and no pool shows a sub-30s consecutive-block rate above the expected ~4.9%. The header-first fingerprint requires both signals simultaneously; only one is present. The more likely explanation is hashrate geographic clustering — a large proportion of US-based miners routing through a single pool, producing run-length variance without the mempool-skipping signature. Empty block rates across all pools are currently near or below the network average.
How to read it: The diagonal shows self-transitions (same pool mines both blocks N and N+1) — these are the second-block-uplift values from Act II. Off-diagonal cells reveal whether two distinct pools hand off blocks to each other more or less often than expected by their hash share.
Key Insights:
Baseline methodology (block-weighted): Expected transitions use each pool's contemporaneous monthly hash share at the time of each block — the same approach as the Second Block Uplift chart. A pool that grew from 10% → 35% over 4 years does not get a flat 22% baseline; each block pair is weighted by the actual share in that month. This prevents fast-growing pools from appearing artificially anomalous in their early-period transitions.
How to read it: Each line tracks a pool's Z-Score across up to 10 daily 144-block windows (~10 days). Z-Score measures how many standard deviations a pool's block production deviates from the expectation given its market share.
Threshold bands:
How to read it: Each bubble is a pool's 30-day average. X = avg transactions per block; Y = avg block size in MB; bubble size = sample weight (blocks mined). Color encodes bytes-per-transaction: 🟢 green = compact (fee-optimizing), 🟡 amber = medium, 🔴 red = inscription-heavy.
Fingerprint insight: Pools mining many small txs at the same block size as larger-tx pools are packing in more fee revenue per byte — a sign of active mempool management. High bytes-per-TX pools are filling blocks with witness-heavy data (Ordinals, Inscriptions).
How to read it: Average witness-data overhead (bytes) per transaction on a log₁₀ scale. BIP 110 proposes a 256 B/tx soft-limit. The arrow (↑/↓) shows whether the pool is above or below that threshold; hover for the pool's peak single-block spike.
Note: marapool's 5,141 B/tx average is driven by a deliberate Ordinals-mining policy — their per-block peak hit 332 kB/tx. All other pools cluster between 280–420 B/tx.
How to read it: Monthly coefficient of variation (CV) of inter-block arrival times since 2022 — aggregated from ~2,800 weekly snapshots. 🔴 Red = low CV (suspicious: consistent, industrial timing). 🔵 Blue = high CV (normal: irregular, retail/decentralised). The China mining ban (2021) and 4th Halving (2024) are annotated as structural inflection points.
Why it matters: Pools with chronically low entropy operate owned hardware at industrial scale — making them uniquely capable of running the multi-block streaks in Act I. The Actor Archetypes panel below cross-references this signal with the most recent 6-month window.
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