Cambridge Survey Shows US Dominates Bitcoin Mining with 75.4% Hashrate, Eyes Further Growth
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According to the latest Cambridge survey, the US has firmly established itself as the world’s largest Bitcoin (BTC) mining hub, accounting for 75.4% of the reported hashrate. This comes as the country continues to prioritize the comprehensive development of the Bitcoin mining industry. Cambridge Confirms the US as the Top Bitcoin Mining Power The findings from Cambridge were outlined in the recent Cambridge Digital Mining Industry Report. The Cambridge Centre for Alternative Finance (CCAF) conducted the survey between June and September 2024. Of 97 companies that registered for the survey, 49 completed it, resulting in a response rate of 50.5%. The report highlighted that the US significantly outpaced all other countries regarding Bitcoin mining dominance. “Survey results further indicate that the US has solidified its position as the largest global mining hub (75.4% of reported activity),” the report read. Bitcoin Mining Activity Across the World. Source: Cambridge Digital Mining Industry Report Canada came in second, at 7.1%. Paraguay, Norway, and Kazakhstan followed with 3.4%, 2.8%, and 2.6%, respectively. However, due to the US-dominated sample of respondents, the survey’s findings may not fully reflect the global distribution of Bitcoin mining. As a result, Cambridge acknowledged that the data may overrepresent US activity in Bitcoin mining and underrepresent activity in other countries. In fact, the latest data from the Hashrate Index showed that the US only accounts for 36.0% of the global hashrate. US to Empower Bitcoin Miners with Energy Autonomy Still, the figure underlines the US’ dominance in the industry, a position the country is looking to expand further. Recently, US Commerce Secretary Howard Lutnick shared the nation’s vision to boost the mining industry. Lutnick highlighted the Commerce Department’s investment accelerator initiative as a key resource to help miners gain greater autonomy over their energy needs. On March 31, President Trump…
