Is Bitcoin facing the risk of a 51% Attack? Two major Mining Pools control over 51% of the Computing Power, raising market concerns about Mining centralization.

Recent data shows that the two major mining pools, Foundry USA and AntPool, currently control over 51% of the total Mining Computing Power of the Bitcoin network, raising deep concerns in the community about the centralization of the Bitcoin network. This theoretically opens the door to the possibility of a 51% Attack, which could manipulate transaction validation and carry out double spending attacks, thus undermining the integrity of the network. Although the cost of carrying out such an attack is extremely high and lacks economic incentives, the current state of highly concentrated computing power has shaken the foundation of Bitcoin's Decentralization and put pressure on market sentiment.

Data Alert: The computing power of the two major mining pools accounts for over half, exceeding the safety threshold

Bitcoin, long regarded as a model of decentralization, is now exposing the drawbacks of computing power centralization in its proof-of-work (PoW) mechanism. According to analyst Jacob King's data, Foundry USA currently accounts for 33.63% of the total network computing power of Bitcoin, while AntPool holds a share of 17.94%. This means that the total computing power share controlled by both has exceeded the theoretical safety threshold of 51%, reaching such a dangerous concentration level for the first time in over a decade.

51% Attack Theoretical Risks: Double Spending and Transaction Rollbacks Threat The excessive concentration of Computing Power has brought about real Bitcoin network security concerns. Theoretically, if these two Mining Pools or a single entity can control their Computing Power, they can launch a 51% Attack. The attacker will be able to:

• Prevent new transaction confirmations.
• Reverse confirmed transactions to achieve double spending.
• Destroy the immutability of the blockchain. This will directly harm the reputation of Bitcoin as a store of value and a safe-haven asset, leading to a collapse of confidence and financial losses.

Community Reaction: Acknowledging the Reality of Centralization and Eroding Confidence

This data has sparked widespread discussion in the crypto community. Jacob King commented: "Once people realize just how centralized, manipulated, and useless Bitcoin actually is, everything will collapse at an unprecedented speed. This is essentially a giant game of musical chairs!" Moreover, statistics show that the three major mining pools often account for over 80% of the global Computing Power. Many community members openly admit that Bitcoin Mining has become "extremely centralized," which undermines its most fundamental Decentralization concept.

Expert Analysis: High Costs Create Barriers, but Market Panic is Sufficient to Pose Risks Despite the severe situation, experts point out that launching a 51% Attack on Bitcoin still faces huge obstacles in reality:

1. Extremely High Costs: Attacks require enormous infrastructure and energy resources, with staggering economic costs.
2. Lack of Economic Incentives: Launching an attack would lead to a collapse in Bitcoin prices, and the mining pool that controls the computing power would be the biggest victim, as its assets and future mining revenues would suffer severe losses. However, even if attacks are difficult to occur, the very recognition of Computing Power Centralization is enough to trigger concerns about systemic risk among investors, and this psychological pressure has already impacted the market.

PoW Mechanism Under Review: Is It Still Suitable to Support Global Finance?

(Bitcoin Difficulty | Source: Blockchain.com) This incident has led many experts to once again question whether the Proof of Work (PoW) mechanism is still suitable as a pillar of the global financial system. Its inherent vulnerabilities, such as the risk of a 51% Attack, have raised concerns about its long-term viability. Some analysts warn that this situation could transform Bitcoin from a decentralized asset into a "risk and burden" in the eyes of institutional investors, potentially impacting the broader financial system.

Conclusion The two major mining pools, Foundry and AntPool, control over 51% of the Computing Power, ringing the security alarm for the Bitcoin network. Although the enormous economic costs and self-destructive consequences serve as a natural barrier to real attacks, the centralization issue of mining pools undoubtedly exposes the potential vulnerability of the PoW mechanism in extreme cases. The core of this event lies in its challenge to Bitcoin's most fundamental decentralization narrative, shaking market confidence. For Bitcoin, maintaining a broad distribution of Computing Power and decentralization is as crucial to its technological security as it is to its ability to continue playing the role of "digital gold."