Bitcoin Hashrate Dominance Shifts as Top Three Nations Hold 65% Share

The concentration of Bitcoin's computing power in specific countries has raised concerns about centralization in the sector. According to a recent report, the top three nations - the US, Russia, and China - hold a combined share of 65% in the global hashrate.

While the global hashrate declined this year due to factors such as decreased BTC price and mining companies pivoting towards AI datacenter businesses, individual countries have shown varying trends. The US lost its dominance by 0.13% since the start of 2026, while Kyrgyzstan and Paraguay gained shares.

The concentration of hashrate in a few countries makes the sector vulnerable to policy changes or disruptions that can affect the entire blockchain. Mining power centralization is generally not considered positive for the industry as it creates systemic risks.