Mining Squared, a newly launched mining pool, has reported a staggering hashrate increase from 800 terahashes per second (TH/s) to 16.97 exahashes per second (EH/s) after joining Nubit's Bitcoin Thunderbolt test network. According to mempool.space, the pool now contributes 2.08% of the total Bitcoin network hashrate, making it the 8th largest mining pool globally.
Bitcoin Thunderbolt: A Decade-Defining Innovation
Nubit developed Bitcoin Thunderbolt to optimize coordination across high-performance Bitcoin environments, including mining and trustless settlement. The project introduces UTXO bundling technology, which enables distributed systems to operate using shared execution logic with reduced latency. This redesigns core pillars for multi-party coordination, allowing collaborative scaling without requiring formal integration between operators.
Nubit describes Bitcoin Thunderbolt as “the most remarkable innovation in the Bitcoin world over the past ten years.” Its key feature is enabling small pools to achieve efficiency comparable to large players. Mining Squared’s explosive growth—climbing from 800 TH/s to nearly 17 EH/s in weeks—is a direct proof of this capability.
Mining Squared: From HODL to Smart Finance
Mining Squared is a purpose-built mining pool designed to support the evolution of the Bitcoin mining ecosystem from raw hashrate competition to intelligent, capital-efficient strategies. As the Bitcoin economy matures, miners are shifting from “HODL and hope” to more dynamic financial planning. Mining Squared facilitates this transition by offering access to yield-generating tools such as cloud mining and on-chain lending.
Looking ahead, the team plans to expand its product offering by integrating more services with ecosystem partners. Nubit also confirmed that Bitcoin Thunderbolt will soon serve more retailer-centric small pools like Mining Squared, building “an unstoppable network” designed to scale Bitcoin assets and execution.
Technical Breakthrough and Industry Impact
Bitcoin Thunderbolt tackles the long-standing scalability bottleneck by reducing latency and optimizing multi-party coordination. Traditionally, small pools struggle to compete due to lack of economies of scale. UTXO bundling allows them to share execution logic without compromising security, achieving near-efficiency of larger operations.
The Mining Squared case demonstrates that even new entrants can quickly rise to global prominence with the help of innovative technology. Analysts believe this trend may accelerate the decentralization of Bitcoin mining—more small but efficient pools could emerge, reducing dominance of a few major players.