Bitcoin pool mines seven blocks in a row, raises security concerns

Antpool, the second-largest Bitcoin ($BTC) mining pool, mined seven blocks in a row on May 17, raising security concerns. The seven-block sequence confirmed 20,686 transactions, rendering over 23 $BTC, worth around $1.54 million, in revenue.

In particular, the event happened between block heights 843,898 and 843,904 and lasted one hour and 38 minutes. According to mempool. space data, Antpool collected 1.283 $BTC in fees, plus 21.875 $BTC from the block subsidy.

Interestingly, Foundry USA, the largest Bitcoin mining pool, mined the previous block of this sequence and the two next blocks. This makes a sequence of 10 blocks mined by two companies, challenging the decentralization and security of the leading cryptocurrency.

The Public Pool account raised the security concern in a post on X.

In this context, a Bitcoin developer believes transactions should wait at least two hours before being considered secure. This is because the more subsequent blocks after the one carrying a transaction, the lower the chances of a chain reorg and the more probable a transaction is to reach finality.

Antpool’s recent seven-block sequence demonstrates that the developer’s concerns are real and should be considered.