Foundry USA Dominates Bitcoin Mining as US Share of Hashrate Expands

The United States has become the world’s leading hub for Bitcoin mining, capturing two-thirds of the global hashrate in 2024. This milestone reflects significant contributions from U.S.-based mining pools, Foundry USA and MARA Pool, which collectively mined over 38.5% of Bitcoin blocks during the year.

Foundry USA Emerges as a Hashrate Powerhouse

Foundry USA, a mining pool operated by Digital Currency Group, maintained its dominance throughout 2024. Starting the year at 157 exahashes per second (EH/s), the pool steadily increased its hashrate, reaching an impressive 280 EH/s by December.

This growth, fueled by a massive expansion of 68% within one year, positioned Foundry in charge of 36.5% of the total hashrate on the Bitcoin network.

Collectively, Foundry USA and MARA Pool played a pivotal role in boosting the U.S. share of Bitcoin mining power. The shift was driven by several factors, including China’s ongoing ban on cryptocurrency mining, which shifted operations to other regions. Additionally, the United States offered favorable conditions for mining, such as abundant energy resources and a supportive regulatory environment in certain states.

Despite the U.S. advances, Chinese mining pools remained influential, commanding an estimated 55% of the global hashrate, according to CryptoQuant CEO Ki Young Ju. Chinese miners continue to operate covertly, utilizing virtual private networks (VPNs) and P2P applications to contribute to mining pools anonymously.

However, determining the precise geographical distribution of mining power is challenging. While some mining pools are headquartered in specific countries, their hashrate contributions often come from international participants.

For example, Bitmain, a leading mining hardware manufacturer, reportedly sold 32 EH/s of U.S.-generated hashrate to a Chinese company in late 2024, further blurring regional distinctions.

U.S. Initiatives to Strengthen Mining Infrastructure

In response to concerns about centralization and geopolitical dynamics, the United States undertook several initiatives to bolster its mining infrastructure.

Mining hardware giant Bitmain expanded production operations in the U.S. to enhance supply chain efficiency and adapt to shifting global landscapes.

At the same time, several states, including Texas, Wyoming, and Pennsylvania, supported Bitcoin mining through legislative efforts.

Furthermore, a North American Blockchain Summit in late 2024 included discussions on establishing a Strategic Bitcoin Reserve to further cement the U.S.’s leadership in the sector.