The Bitcoin blockchain recently experienced a rare two-block reorganization (reorg) at block height 941,880, which has reignited discussions about mining centralization. This event took place on Monday, March 23, 2026, when Foundry USA mined a competing chain that successfully overtook stale blocks originally found by AntPool (941,881) and ViaBTC (941,882).
Data from on-chain researchers indicates that Foundry USA secured an impressive feat by mining seven consecutive blocks, ranging from 941,879 to 941,885. This dominant showing caused the network to discard the blocks from AntPool and ViaBTC as “orphaned,” since the protocol naturally follows the chain with the highest accumulated proof-of-work.
Rare reorg underscores consensus dynamics
Typically, single-block reorganizations are somewhat common in decentralized networks; however, a two-block reorg is much rarer, occurring only a few times a year. These events often signal a temporary tie between mining pools that lasts for an entire additional block cycle, rather than suggesting a malicious 51% attack or a failure in the underlying system.
Foundry USA’s substantial control, commanding approximately 30% of the global hashrate, has brought the issue of hashrate centralization to the forefront. Despite the Bitcoin network functioning as designed, this significant dominance is prompting concern within the community regarding its long-term effects. Consequently, this incident has also reignited discussions about the technical constraints inherent in Bitcoin.
David Schwartz criticizes Bitcoin as a “technological dead end”
David Schwartz, Ripple’s CTO, argues that Bitcoin’s Proof-of-Work (PoW) function often serves as a centralizing force, which the community must continuously challenge.
It really demonstrates a point that I’ve made several times which is that bitcoin’s decentralization doesn’t come from its use of PoW, rather PoW is a centralizing force bitcoin has to keep fighting against.
— David ‘JoelKatz’ Schwartz (@JoelKatz) March 23, 2026
He also pointed out that for many users, Bitcoin’s core value lies in the expectation that they can store and transfer it in the future. Schwartz argues that this function does not require advanced technology, though he acknowledges that future improvements, such as transitioning to quantum resistance, might eventually be necessary to avert a total collapse.
The mining landscape continues to be shaped by institutional players. Pools like Foundry USA, AntPool, and ViaBTC together command over 65% of the network’s total mining power.
In early 2026, a massive Arctic winter storm forced a dramatic reduction in Bitcoin mining activity across the United States. By voluntarily shutting down operations to alleviate pressure on the freezing electrical grid, major mining pools like Foundry USA and Luxor demonstrated their role as flexible energy loads during a period of record-breaking heating demand. This tactical withdrawal caused a significant drop in hashrate and slowed block production, yet it also highlighted the industry’s ability to act as a stabilising force for utility providers through demand response programmes.
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