According to recent data from JPMorgan analysts, the share of Bitcoin's hashrate attributed to U.S. public miners has surged to 34%.
Dynamics of Hashrate Growth
Since the beginning of 2022, the share of public Bitcoin miners has significantly increased from approximately 15% to the current 34%. However, this growth was uneven, fluctuating between 20% and 23% at various times.
Comparison with Other Regions
According to the Hashrate Index, the U.S. currently accounts for 36% of the global hashrate. Previously, China enjoyed nearly 75% dominance in this sector, but after implementing a mining ban in 2021, its share decreased to 17%.
Results of Public Miners
Analysis revealed that public miners achieved one of their best quarterly results last month with approximately $2 billion in gross profits. MARA Holdings remains the leading U.S. Bitcoin miner, producing 950 BTC last month, and is nearing a total of 50,000 BTC in assets.
Overall, there is a significant increase in the share of Bitcoin's hashrate among U.S. public miners, indicating the important role of access to capital for miners in the U.S.
