A groundbreaking research from the Cambridge Centre for Various Finance (CCAF) claims that the USA now dominates Bitcoin mining, controlling as a lot as 75.4% of the worldwide hashing energy. “The U.S. has solidified its place as the most important world mining hub (75.4% of reported exercise),” the CCAF reviews, based mostly on a survey of 49 mining corporations representing almost half the Bitcoin community’s hashrate.
This focus, equating to roughly 600 exahashes per second (EH/s) of the worldwide 796 EH/s, raises a urgent concern: Is Bitcoin mining changing into dangerously centralized within the U.S., and what dangers does this pose for the rising asset’s future?
Howard Lutnick, U.S. Secretary of Commerce and former CEO of Cantor Fitzgerald, lately shared insights into the Trump administration’s imaginative and prescient to place the U.S. as a Bitcoin superpower. “It’s like gold. To me. It’s a commodity,” Lutnick stated in an interview with Frank Corva of Bitcoin Journal, highlighting Bitcoin’s fastened provide of 21 million cash. He outlined plans to “turbocharge” U.S. mining via the Commerce Division’s Funding Accelerator, which streamlines permits for miners to construct off-grid energy vegetation. “You may construct your personal energy plant subsequent to [your data center]. I imply, take into consideration that for a second,” he stated.
This pro-business stance has fueled America’s mining growth, however the CCAF’s findings counsel a draw back: centralization. For years, Bitcoiners anxious about China’s dominance, which peaked at 65–75% of world hashrate earlier than its June 2021 mining ban. “In 2019, China dominated world Bitcoin mining, accounting for 65–75% of the whole Bitcoin community,” a 2025 Nature Communications research notes. When China banned mining, hashrate dispersed globally, with many operations relocating to the U.S., drawn to states with considerable power and favorable insurance policies. This shift precipitated a 50% market correction however paved the way in which for a 130% rise towards the tip of the yr, demonstrating the market’s resilience.
Whereas China’s historic hashrate focus by no means led to community abuse, it was a relentless concern. Now, with the U.S. holding 75% of hashrate, related dangers emerge. The Trump administration is Bitcoin-friendly, however a future administration might flip hostile, leveraging centralized hashrate to regulate the community. In contrast to China’s ban, a future U.S. authorities may attempt to regulate or manipulate mining, utilizing govt powers like sanctions to censor transactions — a risk amplified by mining’s focus.
The U.S.’s federal construction provides a possible safeguard. The division of powers between states and the federal authorities might allow resistance to federal overreach. In states with vital mining exercise, officers and the general public may argue that manipulating the trade harms Bitcoin’s worth, impacting buyers. Such resistance might protect the community’s integrity.
The weakening of the U.S. financial sanctions regime may play to our benefit. Following the 2022 seizure of Russian treasuries, nations misaligned with U.S. coverage have decreased U.S. bond purchases, undermining the fiat rails abused in sanctions. The Trump administration is shifting towards tariffs to regulate items moderately than cash flows, doubtlessly lowering the specter of financial censorship. This pivot buys Bitcoin time, as centralized hashrate could also be a mushy goal for federal intervention.
Nonetheless, American Bitcoiners should keep proactive. Deepening Bitcoin adoption to embed it extensively within the economic system and all through the world might deter censorship, as assaults on the community would hurt private wealth, spurring backlash. Historical past additionally reveals miners adapt when displaced — China’s ban proved that — however governments be taught. A future U.S. administration won’t ban mining however search to regulate it, exploiting centralization.
The Bitcoin trade faces a vital juncture. With as a lot as 75.4% of hashrate within the U.S., even low estimates of fifty% current a centralization threat that looms giant. Ought to we diversify globally or lean into America’s mining dominance? As Lutnick’s imaginative and prescient unfolds, Bitcoiners should guarantee this sovereign cash stays resilient, no matter who holds energy.
