Bitcoin

U.S. Dominates Bitcoin Network Hashrate with Over 40%

Graphs showing U.S. Bitcoin hashrate growth and mining pool contributions.

The Dominance of the U.S. in Bitcoin Mining

Recent data from Odaily highlights the staggering influence of the United States in the Bitcoin mining sector. According to statistics from TheMinerMag, the U.S. now accounts for over 40% of the total Bitcoin network's hashrate.

Key Contributors to the Bitcoin Hashrate

Among the leading players in this industry are two significant U.S.-based mining pools: Foundry USA and MARA Pool. Collectively, these pools are responsible for more than 38.5% of all mined blocks. This dominant position has reshaped the landscape of Bitcoin mining, emphasizing the geopolitical influence in the cryptocurrency ecosystem.

Foundry USA's Hashrate Growth

Notably, Foundry USA has experienced remarkable growth in its hashrate. At the start of 2024, it operated at 157 EH/s (exahashes per second) and has surged to approximately 280 EH/s by December. This impressive increase reflects not only Foundry's commitment to growth but also the rising demand for Bitcoin mining capacity.

Mining Pool Market Share

Currently, Foundry USA holds the title of the largest single mining pool by hashrate, boasting control over about 36.5% of the total Bitcoin network hashrate. This position places Foundry in a strategic role, potentially steering the future direction of Bitcoin's mining policies and practices.

Conclusion

The data from Odaily and TheMinerMag underscores the critical role the United States plays in the Bitcoin mining industry. With major players like Foundry USA and MARA Pool leading the way, it will be interesting to watch how this landscape evolves, especially in terms of regulations, competition, and technological advancements.

Explore More

To dive deeper into the world of cryptocurrency mining, check out our related articles on the latest trends and developments in the Bitcoin ecosystem.

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