The U.S. captured over 40% of BTC's total hashrate in 2024, led by Foundry USA and MARA Pool.
Foundry USA recorded a hashrate growth from 157 EH/s to 280 EH/s, contributing 36.5% of Bitcoin's total power.
MARA Pool saw a 168% annual growth rate and solidified its position, controlling 4.35% of the network computational power.
The United States has appeared at the top in mining, accounting above 40% of the network’s total hashrate. This power is driven by two main mining pools based in the country: Foundry USA and MARA Pool. Together, these pools donated to the mining of more than 38.5% of Bitcoin blocks in 2024, showcasing their influence on the operations, as reported by Miner Weekly.
Foundry USA has kept its position as the immense mining reservoir globally, donating approximately 36.5% of BTC’s total hashrate. The hashrate saw growth, climbing from 157 EH/s at the start of 2024 to 280 EH/s by December.
While smaller in scale, MARA Pool has confirmed itself as an influential player in Bitcoin mining. By the end of 2024, MARA Pool acquired a hashrate of 32 EH/s, representing 4.35% of the network’s total power. The pool’s annual growth rate reached an amazing 168%.
The attention of Bitcoin mining power in the U.S. raises questions about the network’s decentralization. Foundry USA and MARA Pool’s combined growth significantly outpaces the overall network’s expansion.
Foundry registered a 68% annual increase in its hashrate, highlighting its accelerated dominance compared to global trends. The shift of U.S.-based miners to domestic pools has amplified the influence of North American mining pools on Bitcoin’s security and governance.
Despite changes in the mining space, the price has remained stable. The asset traded at approximately $98,000, reflecting a 1% increase from the previous day. The market cap is valued at $1.94 trillion, showing a similar daily gain of 1.35%.
Trading volume over the past 24 hours stood at $36.14 billion, indicating a 13.60% decline. The fully diluted valuation (FDV) is $2.05 trillion, while the circulating supply is reported at 19.8 million BTC. The steady price suggests continued market confidence, even as mining centralization introduces potential risks.
