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