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The landscape of Bitcoin mining is evolving, with significant changes in the global distribution of <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a>, as reported by MinerMetrics. This new analysis presents a fascinating glimpse into the shifting dynamics of Bitcoin mining power across the world, according to <a href="https://www.minermetrics.io/estimating-the-global-geographical-distribution-of-bitcoin-mining/" rel="noopener noreferrer nofollow">MinerMetrics</a>.
MinerMetrics' latest Bitcoin mining map, which adopts a bottom-up methodology for estimating the hashrate of each country, reveals that the <a href="https://ultramining.com/news/en/pennsylvania-a-new-hub-for-cryptomining-ignites-environmental-concerns/" rel="noopener noreferrer nofollow">United States</a>, <a href="https://ultramining.com/news/en/immersion-cooling-transforms-chinas-crypto-mining-landscape/" rel="noopener noreferrer nofollow">China</a>, and <a href="https://ultramining.com/news/en/russia-s-energy-ministry-charges-forward-to-legalize-crypto-mining/" rel="noopener noreferrer nofollow">Russia</a> are the dominant forces in Bitcoin mining. Together, these three countries account for a whopping 67% of Bitcoin's total hashrate, with the <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/" rel="noopener noreferrer nofollow">U.S.</a> alone contributing 40%.
Other notable countries in the mining landscape include <a href="https://ultramining.com/news/en/alberta-stanovitsya-centrom-majninga-v-kanade-2/" rel="noopener noreferrer nofollow">Canada</a> (5%), <a href="https://ultramining.com/news/en/global-bitcoin-mining-activity-soars-hashrate-hits-record-high/" rel="noopener noreferrer nofollow">Kazakhstan</a> (3.5%), the United Arab Emirates (3%), Malaysia (3%), Norway (1.5%), and Sweden (0.9%). These figures highlight the concentration of mining power in a few key locations, particularly in North America and Asia, which combined, produce 86.7% of the global hashrate.
Africa, despite its vast energy resources, contributes a relatively small 2.2% of the global hashrate. However, this is poised to change. With the upcoming Bitcoin <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a>, Africa is attracting miners due to its exceptionally cheap power sources, mostly renewable. Countries like Ethiopia are emerging as new hubs for Bitcoin mining, offering <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">hosting</a> services with hydropower at competitive rates. This shift towards Africa could contribute to making the Bitcoin network more geographically decentralized.&nbsp;
The report by MinerMetrics, underscores the ongoing evolution of the Bitcoin <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a>. As countries vie for a larger share of the global hashrate, the industry is set to become more diversified and possibly more resilient.

Global Shifts in Bitcoin Mining

Ultramining_Eng

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