A recent Bitcoin mining report has shown that the U.S. has become the leading country in this field, accounting for over 75% of the global hash rate, as China's role has significantly diminished.
Rise of U.S. Dominance in Bitcoin Mining
According to recent data from Cambridge, over 75% of Bitcoin mining now occurs in the U.S. This is a significant shift from 2019 when China held 50% of the hash rate. Charles Edwards, founder of Capriole Funds, stated that 'Bitcoin is now made in America.'
Energy Costs and Environmental Impact
The report also indicates that the annual electricity consumption of the industry stands at 138 terawatt-hours (TWh), leading to emissions exceeding 39.8 million metric tons of CO₂. Over 52% of the energy mix comes from sustainable sources, while natural gas remains the primary energy source at 38.2%.
Future of Bitcoin Mining Amid Uncertainty
Regulatory uncertainty and energy price volatility remain top concerns for mining companies. In response, firms are focusing on business diversification and multi-region deployment strategies. However, logistical barriers and limited infrastructure continue to impede further growth.
Thus, with the shift of Bitcoin mining's center to the U.S., energy policy and resource accessibility will play a critical role in the future of the network and its ecology.
