A recent report highlights the United States’ growing influence in the Bitcoin mining ecosystem, accounting for over 40% of the global Bitcoin network’s hashrate by the end of 2024.

Key Insights:

Top Mining Pools: U.S.-based Foundry USA and MARA Pool contributed 38.5% of all blocks mined globally.

Foundry USA: Largest mining pool, controlling 36.5% of the Bitcoin network with a hashrate of 280 EH/s by December 2024.

MARA Pool: Holds 4.35% of global hash power.

China’s Resilient Presence: Despite a 2021 crypto ban, Chinese mining pools control 55% of the global hashrate, aided by VPNs and peer-to-peer tools.

Centralization Concerns:

Hashrate Risks: The concentration of hashrate in few pools raises alarms about decentralization and national security.

Expert Warnings: Rajiv Khemani, CEO of Auradine, emphasized the importance of geographic and manufacturing diversity for mining hardware to mitigate supply chain vulnerabilities.

Conclusion:

The debate over Bitcoin’s decentralization persists, with calls for equitable distribution of mining power to maintain the network’s neutrality and security.