Post-Halving Bitcoin Mining Pool Dynamics: Technical Analysis of Centralization Signals

Over the past seven days, on-chain telemetry from multiple monitoring nodes reveals a single mining pool now accounts for thirty-eight point four percent of total network hash rate. This concentration exceeds the critical threshold established in prior quarterly reports by twenty-three percent. Such shifts occur immediately after block reward halvings, when revenue per terahash drops by fifty percent. The anomaly appears in raw block height and difficulty data rather than narrative summaries from exchange platforms. It demands immediate verification through multiple independent nodes to avoid reliance on filtered dashboards. Market participants assume stable distribution until proven otherwise. Reality inserts itself through raw telemetry. The code does not smooth these transitions; it exposes them.