{"id":569478,"date":"2026-10-06T20:30:29","date_gmt":"2026-10-06T19:30:29","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=569478"},"modified":"2026-10-06T18:49:39","modified_gmt":"2026-10-06T17:49:39","slug":"3-countries-control-66-of-bitcoin-mining-but-1-rival-is-gaining","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/3-countries-control-66-of-bitcoin-mining-but-1-rival-is-gaining\/","title":{"rendered":"3 countries control 66% of Bitcoin mining, but 1 rival is gaining"},"content":{"rendered":"

Bitcoin's estimated US mining footprint shrank as Russia's grew, with little change in top-three country concentration.<\/p>\n

Hashrate Index's Oct. 5 country estimates<\/a> put the US at about 335 EH\/s, down from 345 EH\/s in the previous edition, while Russia rose from 162 to 170 EH\/s.<\/p>\n

The US, Russia and China still account for roughly 66% of the estimated network. Their combined share slipped by about 0.8%, even as the global hashrate estimate stayed almost flat.<\/p>\n

That is a modest change in geographic concentration, with a clearer shift in the balance between the two largest mining locations.<\/p>\n

Luxor Technology's mining data platform Hashrate Index labels the report its fourth-quarter update, but the figures describe observations from the preceding third quarter. Its July 16 comparison edition<\/a> described June estimates.<\/p>\n

The October publication is neither a completed fourth-quarter result nor a live census of where machines are operating on Oct. 6.<\/p>\n

A smaller US share leaves the same three leaders<\/h2>\n

The comparison separates absolute mining activity from network share. Estimated US hashrate declined as its share fell from 36.7% to 35.6%, while Russia gained both estimated hashrate and share, rising from 17.2% to 18.1%. China's estimate declined from about 115 to 110 EH\/s.<\/p>\n\n\n\n\n\n\n\n\n
Location or metric<\/th>\nJuly edition<\/th>\nOctober edition<\/th>\n<\/tr>\n<\/thead>\n
United States<\/td>\nAbout 345 EH\/s; 36.7%<\/td>\nAbout 335 EH\/s; 35.6%<\/td>\n<\/tr>\n
Russia<\/td>\nAbout 162 EH\/s; 17.2%<\/td>\nAbout 170 EH\/s; 18.1%<\/td>\n<\/tr>\n
China<\/td>\nAbout 115 EH\/s; 12.2%<\/td>\nAbout 110 EH\/s; 11.7%<\/td>\n<\/tr>\n
Global network<\/td>\nAbout 940 EH\/s<\/td>\nAbout 941 EH\/s<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The network total is a 30-day simple moving average of hashrate, the computing work devoted to mining.<\/p>\n

The provider's methodology summary<\/a> describes a weighted combination of pool data, ASIC trading flows, and firmware adoption trends.<\/p>\n

Cambridge's separate mining-map methodology<\/a> warns that a pool sample may be unrepresentative and that VPNs or proxies can distort inferred location.<\/p>\n

Hashrate Index's October comparison puts the top three countries' combined share at 65.4%, down from 66.2%. Calculating from the rounded EH\/s inputs reproduces approximately that 0.8% decline. The resulting balance leaves the US with a smaller share and Russia with a larger one, while the same three countries remain dominant.<\/p>\n

July's printed country shares add to 66.1%, while the rounded EH\/s figures reproduce the provider's 66.2% aggregate after rounding. These differences are distinct from sampling or estimation error, and the comparison provides no confidence range to demonstrate statistical significance.<\/p>\n

\"Hashrate<\/a>
Bitcoin mining estimates shifted among the US, Russia and China, while their combined hashrate share remained near 65%.<\/figcaption><\/figure>\n

A smaller estimated US share reduces the portion attributed to that jurisdiction, while a larger Russian share increases the portion attributed to Russia. Those movements change exposure to particular locations without showing that the network has acquired many more independent sources of mining capacity.<\/p>\n

Machines switching off in one country and other machines switching on elsewhere can change the distribution without the same equipment moving between them. The country totals do not establish a transfer from the US to Russia.<\/p>\n

Location leaves ownership and operating status unresolved<\/h2>\n

A country's mining share describes where computing activity is estimated to occur, and beneficial ownership asks who ultimately owns that equipment.<\/p>\n

Pool control asks who coordinates mining work and selects the transactions proposed for blocks. Treating these as interchangeable would turn a location estimate into a claim about decision-making power.<\/p>\n

The Bitcoin developer guide's<\/a> pooled-mining explanation separates the miners supplying hashing work from the pool that coordinates it<\/a> and distributes rewards. In its legacy Stratum example, miners receive the information needed to construct block headers without being able to inspect or add transactions to the block.<\/p>\n

That arrangement makes transaction selection independent of the machines' physical location. Spreading hardware across more countries does not show that more independent parties choose block contents.<\/p>\n

Equally, a pool coordinating work is not automatically the beneficial owner of all the equipment contributing to it.<\/p>\n

Stratum V2's transaction-selection design<\/a> allows miners to choose a transaction set optionally, a capability that does not establish how widely it is used today.<\/p>\n

A fuller assessment would need ownership information and contemporaneous evidence about pool participation and block-template selection. The quarterly country figures establish neither improved ownership diversity nor unchanged pool concentration.<\/p>\n\n

\n \n
\n Related Reading<\/span>\n

Solana beats Bitcoin on one key metric, but a single software bug could still take down the network<\/h3>\n <\/div>\n \n <\/i>\n <\/span>\n <\/a>\n<\/div>\n\n

Geography also leaves open what is happening at individual sites. Luxor attributes some regional mining declines to the switch toward artificial intelligence and high-performance computing. Individual company disclosures show that conversion activity is real.<\/p>\n

In its Aug. 10 operational disclosure<\/a>, Keel Infrastructure<\/a> said it had completed decommissioning all its US Bitcoin mining operations<\/a> in preparation for HPC construction.<\/p>\n

Core Scientific's<\/a> July 28 results described an ongoing process of repurposing<\/a> its remaining mining facilities for high-density colocation services as circumstances allow. That is a different operating status from a completed mining exit.<\/p>\n

These examples substantiate particular companies' actions. Reports on\u00a0miners' AI commitments<\/a> examined the execution question before this country comparison appeared.<\/p>\n

Temporarily idled equipment may resume work if the conditions that caused curtailment improve. A site being reconstructed or committed to another workload faces a different path back. A hashrate decline alone does not tell readers what happened or how durable it will be.<\/p>\n

Luxor also describes an Ethiopian power restriction in explaining that country's decline. Such explanations need their own evidence: a country delta cannot establish the contribution of power rationing, seasonal conditions, or policy. The geographic estimates and the proposed causes remain separate claims.<\/p>\n

The network estimate barely changed, from about 940 to 941 EH\/s. That aggregate can coexist with lower US activity because gains elsewhere offset losses, saying little about whether US miners have recovered operating capacity or improved their own economics.<\/p>\n

The next useful evidence is specific to the mining risk being assessed: repeated country observations for persistence, company disclosures distinguishing actual conversion from curtailment, and ownership and pool data for control. A single nearly flat network total cannot answer all three.<\/p>\n

For now, geographic exposure has shifted within a still concentrated mining network. Establishing broader decentralization gains requires evidence about who owns and coordinates the capacity, as well as where it sits.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hashrate Index’s October comparison still puts about two-thirds of estimated hashrate in three countries, without measuring ownership or pool control.<\/p>\n","protected":false},"author":1264,"featured_media":569512,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[78326,120,77968,2376],"tags":[81114,81073,76769,78143,78295],"post_folder":[],"acf":[],"yoast_head":"\n3 countries control 66% of Bitcoin mining, but 1 rival is gaining<\/title>\n<meta name=\"description\" content=\"Bitcoin mining estimates show a smaller US footprint and a Russian rebound, while geographic concentration changes little and ownership remains unresolved.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/3-countries-control-66-of-bitcoin-mining-but-1-rival-is-gaining\/\" \/>\n<meta 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