US Dominates Bitcoin Mining with Over 40% Global Hashrate by the End of 2024
Description
The United States (US) has strengthened its position as a leader in Bitcoin mining by controlling more than 40% of the global hashrate by the end of 2024. This is due to the collaboration between two large US-based mining pools, namely Foundry USA and MARA Pool. Foundry USA has seen a significant increase in hashrate, from 157 exahash per second (EH/s) at the start of the year to reaching around 280 EH/s in December, making it the largest mining pool globally with control of 36.5% of the total hashrate of the Bitcoin network [2].
Conclusion
The US dominance in Bitcoin mining could affect the stability and security of the network. However, keep in mind that the geographic distribution of hashrate can fluctuate as many mining pools depend on contributions from different countries. Therefore, it is necessary to conduct constant monitoring to ensure the security and decentralization of the Bitcoin network.
