3 countries control 66% of Bitcoin mining, but 1 rival is gaining
Hashrate Index’s October update estimates that US Bitcoin mining hashrate fell from 345 to 335 EH/s in the prior quarter, while Russia’s rose from 162 to 170 EH/s. China’s estimate also declined, and the US, Russia and China together still account for about 65.4% of the network, down from 66.2%. Global hashrate remained nearly flat at roughly 941 EH/s. The figures indicate a shift in estimated geographic distribution, not proof that mining equipment moved from the US to Russia or that ownership and pool control became more decentralized. Estimates rely on indirect data and provide no confidence range. Company disclosures confirm some US miners are converting facilities to AI and high-performance computing, but country-level totals alone cannot distinguish permanent exits from temporary shutdowns or establish the causes of changes.
