A look at the TripleMining Bitcoin Mining Pool
Please note: This review is based on a relatively small amount of hashing, a few hundred ghs. The stats outlined in this review may not apply to larger miners. We hacked our antminer S1’s to mine nine pools concurrently, letting us run proportional power across a wide variety of mining pools. This review is part of our series of bitcoin mining pool reviews.
[December 2015 update – TripleMining Pool shut down towards the end of 2015, and is no longer available]
Triple Mining is a bitcoin mining pool that has been running since 2012. It hasn’t found a massive amount of blocks in this time, with about 300 blocks found, but have been long-standing in the bitcoin mining space, however it’s hashing power has been staying static or dropping in the face of increasing difficulty, meaning that finding blocks is becoming rarer and rarer.
The pool operates using a Pay Per Last N Shares (PPLNS) payout method with 0% fee, and they don’t distribute transaction fees, with the rounds running across 24 hours. With the low hashing rate, this can be a double edged sword. On the one hand, if you have been mining when a block is found, the reward can be significantly higher than other pools, however if not, then there’s a lot of wasted energy going into nothing. While we reviewed the pool for over a week with a (thankfully) small proportion of our bitcoin mining review rig, we didn’t hit a block. Even if we did, it would take very long to reach the minimum of 0.01 payout threshold, so in the end we decided to stop mining on the pool.
The site’s interface is basic, but informative. You can see your mining stats, how you are getting on, and your rewards. Groups of people can also band together into teams. The pool also offers a jackpot occasionally to random miners, and the account security screens let you set your password and API key, although it doesn’t have 2FA. However, there is a temporary payout lock when you change an address, and warnings given by email in the event of a wallet address being changed.
The pool itself seems to be dying as time goes on, and the frequency of blocks being found is getting very erattic. If you have a reasonable amount of hashing power pointed to it when they do hit a block, the rewards can be greatly more than mining on a PPS pool, however, a lot of the time you’re mining for nothing, which can be a little frustrating. The pool itself was one of the earlier ones around, but seems to be on it’s last legs which is a shame.