A revolutionary study of the Cambridge Center for Alternative Finance (CCAF) states that the United States now dominate Bitcoin Mining, checking up to 75.4% of global hashing power. “The United States have consolidated its position as the largest global mining hub (75.4% of the activities reported)”, reports CCAF, based on a survey on 49 mining companies that represent almost half of the hashrate of the Bitcoin network.
This concentration is equivalent to about 600 Exahashes per second (eh/s) of 796 eh/s global, arouses an urgent concern: is Bitcoin mining dangerously becoming centralized in the United States and what risks does this entail for the future of the emerging resource?
Howard Lutnick, secretary of the United States and former CEO of Cantor Fitzgerald, has recently shared insights on the vision of the Trump administration to position the United States as a bitcoin superpower. “It’s like gold. For me. It’s a commodity,” Lutnick said in an interview with Frank Corva of Bitcoin magazine, highlighting the fixed Bitcoin supply of 21 million coins. It has outlined the plans to “disturb” the United States Mining through the investment accelerator of the Department of Commerce, which simplifies for miners to build off-grid power plants. “You can build your power plant next to [your data center]. I mean, think about it for a second, “he said.
This pro-business position has fueled the American mining boom, but the results of CCAF suggest a negative aspect: centralization. For years, Bitcoiner have worried about China’s domain, which reached the peak at 65-75% of global hashrate before the mining ban of June 2021. “In 2019, China dominated global Bitcoin mining, equal to 65-75% of the total bitcoin network”, a 2025 Natural communications Study notes. When China has forbidden mining extraction, hashrate dispersed globally, with many operations that move to the United States, attracted by states with abundant energy and favorable policies. This shift caused a market correction of 50% but opened the road to an increase of 130% until the end of the year, demonstrating the resilience of the market.
While the historical concentration of Chinese hashrate has never led to network abuse, it was a constant concern. Now, with the United States who hold 75% of hashrate, similar risks emerge. The Trump administration is suitable for bitcoins, but a future administration could become hostile, taking advantage of the centralized hashrate to control the network. Unlike the Chinese ban, a future government of the United States could try to regulate or manipulate mining, using executive powers such as penalties to censor transactions, a threat amplified by the concentration of mining.
The federal structure of the United States offers potential safeguard. The division of powers between states and the federal government could allow resistance to the federal overcoming. In states with a significant mining activity, officials and the public could argue that the manipulation of the sector damages the value of Bitcoin, affecting investors. This resistance could preserve the integrity of the network.
The weakening of the United States monetary sanctions regime could play to our advantage. Following the seizure of 2022 of Russian titles, the nations disallained to US policy have reduced purchases of US obligations, undermining the Fiat rails abused in penalties. The Trump administration is moving towards rates to control goods rather than money flows, potentially reducing the threat of monetary censorship. This pivot acquires Bitcoin time, since centralized hashrate can be a soft goal for federal intervention.
However, American bitcoiners must remain proactive. The deepening of the adoption of Bitcoin to incorporate widely into the economy and all over the world it could discourage censorship, since attacks on the network would damage personal wealth, pushing a backlash. The story also shows that the miners adapt when the churned off – China’s ban has shown it – but governments learn. A future American administration may not prohibit mining but try to control it, taking advantage of centralization.
The Bitcoin industry has to face a critical moment. With up to 75.4% of hashrate in the United States, even low 50% estimates have a risk of centralization that looms. Should we diversify global or lean on the American mining domain? While Lutnick’s vision takes place, the bitcoiners must ensure that this sovereign money remains resilient, regardless of those who hold power.