Publicly available data on Bitcoin mining pool hashrate distribution

Bitcoin Hashrate Surges 56% to All-Time High, US Dominates with Over 40% Control Led by Foundry USA and MARA Pool

Jan 3, 2025, 07:09 PM

Bitcoin's network hashrate, a measure of the computational power used to mine the cryptocurrency, surged by 56% in 2024, reaching an all-time high. The hashrate increased from 512 to 800 exahash per second (EH/s) over the year, marking a 50% increase and the 8th consecutive rise. If growth continues at a steady rate of 20% annually, the hashrate could reach 1 zettahash per second (ZH/s) by 2027, just 3.5 years before the next halving event. This increase in hashrate enhances the security of the Bitcoin network but also raises energy costs for miners, prompting them to seek more efficient equipment and cheaper power deals. The United States now accounts for over 40% of the global Bitcoin hashrate, with mining pools Foundry USA and MARA Pool leading the charge. Foundry USA alone controls 36.5% of the network, having increased its hashrate from 157 EH/s to 280 EH/s in 2024. This concentration of hashrate in the US has sparked concerns over centralization in the Bitcoin mining industry. The daily block reward post-halving is now 450 BTC, and the mining difficulty has seen 7 consecutive positive adjustments, currently standing at 109.78 trillion.