It is claimed by a groundbreaking study from the Cambridge Centre for Alternative Finance (CCAF) that Bitcoin mining is now dominated by the United States, with as much as 75.4% of the global hashing power being controlled.
A groundbreaking study from the Cambridge Centre for Alternative Finance (CCAF) claims that the United States now dominates Bitcoin mining, controlling as much as 75.4% of the global hashing power. According to the CCAF, “The U.S. has solidified its position as the largest global mining hub (75.4% of reported activity),” based on a survey of 49 mining firms that represent nearly half of the Bitcoin network’s hashrate.
This concentration, totaling approximately 600 exahashes per second (EH/s) out of the global 796 EH/s, raises a pressing concern: Is the U.S. dangerously centralizing Bitcoin mining, and what risks does this pose to the future of the emerging asset?
Trump Administration Eyes U.S. Bitcoin Supremacy Through Mining Expansion
Howard Lutnick, U.S. Secretary of Commerce and former CEO of Cantor Fitzgerald, recently shared insights into the Trump administration’s vision to position the U.S. as a Bitcoin superpower. In an interview with Frank Corva of Bitcoin Magazine, Lutnick emphasized Bitcoin’s fixed supply of 21 million coins, saying, “It’s like gold. To me. It’s a commodity.” He outlined plans to “turbocharge” U.S. mining through the Commerce Department’s Investment Accelerator, which will streamline permits for miners to build off-grid power plants. “You can build your own power plant next to your data center. Think about that for a second,” he added.
America’s pro-business stance has fueled a mining boom, though the CCAF’s findings highlight centralization as a potential downside. For years, Bitcoiners raised concerns about China’s dominance, which peaked at 65–75% of the global hashrate before the country’s mining ban in June 2021. A 2025 Nature Communications study notes that in 2019, China accounted for most global Bitcoin mining. After the ban, miners dispersed worldwide, with many relocating to U.S. states offering cheap energy and supportive policies. This shift triggered a 50% market correction but paved the way for a 130% rally by year-end, showcasing the market’s resilience.
Although China never abused its historical hashrate dominance, the concentration consistently raised concerns. Now, with the U.S. controlling 75% of the hashrate, similar risks are surfacing. While the Trump administration supports Bitcoin, a future administration might adopt a hostile stance and exploit the centralized hashrate to influence the network. Unlike China’s outright ban, a future U.S. government could actively regulate or manipulate mining by invoking executive powers, such as imposing sanctions to censor transactions — a threat intensified by this concentration.
Federalism, Sanctions, and the Battle to Protect Bitcoin’s Decentralization
The U.S.’s federal structure offers a potential safeguard. The division of powers between state and federal governments allows states to resist federal overreach. In states with major mining activity, officials and citizens can argue that federal manipulation would harm Bitcoin’s value and negatively affect investors. This resistance could help protect the network’s integrity.
The weakening of the U.S. monetary sanctions regime might be to our advantage. After the 2022 seizure of Russian treasuries, nations that opposed U.S. policies reduced their U.S. bond purchases, weakening the fiat rails typically used in sanctions. The Trump administration has shifted its strategy toward using tariffs to control goods instead of monetary flows, potentially reducing the risk of monetary censorship. This pivot buys Bitcoin time, as federal intervention may target centralized hashrate as a soft point.
Nevertheless, American Bitcoiners must remain proactive. Widespread Bitcoin adoption across the global economy could discourage censorship, as attacks on the network may directly harm individual wealth and trigger public backlash. History has also shown that miners adapt when displaced — as demonstrated by China’s ban — but governments learn. A future U.S. administration might not ban mining but could seek to control it by exploiting centralization.
The Bitcoin industry stands at a critical juncture. With the U.S. controlling up to 75.4% of the hashrate—and even the lower estimates at 50%—the risk of centralization remains significant. The key question is whether the industry should pursue global diversification or accept America’s mining dominance. As Lutnick’s vision unfolds, Bitcoiners must ensure that this sovereign money remains resilient, no matter who holds power.
 that Bitcoin mining is now dominated by the United States, with as much as 75.4% of the global hashing power being controlled.){kind=link}