Global Bitcoin Mining Power: 2025 Report Reveals Key Shifts
Background: Major Players Maintain Control
Global Bitcoin mining power continues to be concentrated among a few key countries, according to the newly released Q4 2025 Global Hashrate Heatmap report. The US, Russia, and China collectively control approximately 68% of the global Bitcoin hash rate. The United States has further increased its dominance, now accounting for 37.8% of worldwide Bitcoin mining activity, or about 389 exahashes per second (EH/s). This quarter-over-quarter increase of 1.95 percentage points highlights an ongoing upward trend throughout 2025.
Russia ranks second in global Bitcoin mining power with a 15.5% share (160 EH/s), followed by China at 14.1% (145 EH/s). These three countries remain at the forefront of Bitcoin mining despite shifts in regulatory climates and increasing competition from new entrants. The report emphasizes that Bitcoin mining remains highly concentrated in select regions, which raises concerns regarding centralization within the network.
Emerging Markets and Regional Growth
While North America, Russia, and China still dominate, the new data indicates changes in other regions. Paraguay has become the fourth largest contributor to global Bitcoin mining power, with a 3.9% share, reflecting the growth of mining in South America. The United Arab Emirates holds 3.2%, followed by Oman at 2.9%. Ethiopia has entered the global ranking for the first time, now responsible for 1.9% of the world’s Bitcoin hash rate—a significant development for the African continent.
Laos (+0.22 percentage points), Bolivia (+0.21), and Georgia (+0.17) experienced the most growth, according to the Q4 2025 data. Conversely, the UAE (-0.34 points), Kazakhstan (-0.19), and Argentina (-0.17) saw declines in market share. These regional shifts reflect changing regulatory, economic, and energy environments affecting the global distribution of mining activity.
Market Reaction and Centralization Risks
Despite increasing participation from countries around the globe, the latest report shows the risk of centralization remains high in the Bitcoin network. While the US’s share of mining power increased, Russia’s proportion decreased by over 1 percentage point. Nevertheless, both nations continued to expand their absolute mining capacities. The report notes that “mining is still heavily concentrated in specific regions,” highlighting persistent concerns over network resilience.
Observers continue to monitor how emerging markets like Ethiopia and Paraguay may impact future trends in global Bitcoin mining power. The competition among countries for a larger share of hash rate is expected to influence not only economics but also future policy discussions.
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What’s Next for Global Hashrate Distribution?
As the global hashrate continues to evolve, the possibility of further decentralization remains contingent on shifts in regional investment, government policies, and access to affordable energy. The report’s findings are likely to inform future decisions for industry participants as geographic power dynamics shift through 2026 and beyond.
Sources: CryptoNews
