Can a Mining Pool Itself Rent Hashrate to Increase Its Share?
Yes, a mining pool can rent hashrate, but typically not to increase its share of the existing pool. A pool operator could rent external hashrate to increase the pool's overall size and therefore its probability of finding a block.
However, this is more common in the context of a pool temporarily directing its own combined hashrate, or renting external hashrate, toward a different, more profitable coin, often facilitated by a rental market platform.
Glossar
Mining Pool
Consensus ⎊ Mining pools represent a collaborative effort among network participants to aggregate computational resources, increasing the probability of successfully mining blocks and earning associated rewards within a Proof-of-Work cryptocurrency system.
Hashrate
Definition ⎊ Hashrate represents the total computational power per second that a miner or the entire network dedicates to solving cryptographic puzzles in a Proof of Work blockchain.
Hashrate Increase
Momentum ⎊ The observable augmentation of a cryptocurrency network's computational power, typically measured in hashes per second, directly correlates with the security and transaction processing capacity of the blockchain.
Rent
Definition ⎊ Rent, in the context of cryptocurrency mining, refers to the cost associated with leasing or utilizing physical space for mining operations.
Renting Hashrate
Action ⎊ Renting Hashrate is the action of procuring temporary access to computational mining power from a third-party marketplace, enabling the lessee to direct that power toward a specific Proof-of-Work blockchain.