U.S. Dominates Bitcoin Hashrate, But Concerns About Centralization Loom

The rise of U.S.-based mining pools has reshaped Bitcoin’s hashrate landscape. Foundry USA and MARA Pool account for over 38% of mined blocks

The United States now dominates Bitcoin’s hashrate, with two mining pools—Foundry USA and MARA Pool—accounting for over 38% of mined blocks. However, concerns about centralization and the continued influence of Chinese miners persist.

According to the latest data, the U.S. contributes over 40% to Bitcoin’s global hashrate, the total computing power securing the protocol. U.S.-based mining pools have seen a continuous rise in their hashrate dominance.

Foundry USA, the largest mining pool by hashrate, now controls approximately 36.5% of the total network power. The pool's hashrate has surged from 157 exahashes per second (EH/s) in January to nearly 280 EH/s in December 2024.

Meanwhile, MARA Pool, operated by Marathon Digital, boasts a hashrate of 32 EH/s, accounting for 4.35% of the global hashrate.

"The United States contributes more than 40% to the Bitcoin network hashrate. Foundry is currently the largest single mining pool by hashrate, controlling approximately 36.5% of the total Bitcoin network hashrate," the report highlights.

However, it's important to note that Chinese mining pools still largely dominate Bitcoin's computing power globally. Despite the country's 2021 ban on crypto mining, some Chinese miners have reportedly continued their operations by using VPNs and peer-to-peer apps to mine and exchange cryptocurrencies.

As a result, some experts still estimate that China may hold over 50% of the global Bitcoin hashrate.

The geographic distribution of miners makes it challenging to precisely calculate the actual hashrate dominance. Mining pools often have headquarters in one country but may outsource services from miners located in different countries.

This geographic variation makes it difficult to fully grasp the mining landscape and who ultimately controls the Bitcoin network.

Bitcoin Centralization Raises Concerns

The集中化 of Bitcoin's computing power has sparked concerns among industry executives. Centralization could threaten the decentralized nature of Bitcoin, which many believe is crucial for its neutrality and security.

"No single country should have the majority of the hashrate for Bitcoin. It is crucial for the integrity of the network and the neutrality of the cryptocurrency," said Rajiv Khemani, CEO of Auradine.

Analysts also stress the importance of avoiding concentration in one location for Bitcoin mining infrastructure, considering the potential risks involved.

"We should not have the majority of the mining infrastructure in the United States, as it poses a threat. The concentration could impact global supply chains for mining hardware, such as ASICs, and ultimately affect the network's security," the report adds.

The decentralization of Bitcoin is a key concern for industry participants, highlighting the need for attention to the growth and development of mining pools and their impact on the cryptocurrency.

"The Bitcoin community has expressed concerns about the potential consequences of a more centralized mining ecosystem," the report concludes.