A groundbreaking study from the Cambridge Center for Alternative Finance (CCAF) claims that the United States now dominates Bitcoin mining and controls as much as 75.4% of the global hashish power. “The United States has solidified its position as the largest global mining (75.4% of the reported activity),” reports CCAF, based on a survey of 49 mining companies representing almost half of the Bitcoin Hash Rate.
This concentration corresponding to approx. 600 Exahashes per Second (EH/S) in the global 796 EH/S, raising an urgent concern: Is Bitcoin mining dangerous centralized in the United States and what risks do this pose for the future of the new asset?
Howard Lutnick, US Trade Secretary and former CEO of Cantor Fitzgerald, recently shared insight into the Trump administration’s vision of placing the United States as a Bitcoin superpower. “It’s like gold. For me. It’s an item,” Lutnick said in an interview with Frank Corva from Bitcoin Magazine, which highlights Bitcoin’s regular supply of 21 million coins. He outlined plans to “turbocharger” us mining through the trade department’s investment accelerator, which streamlines allow for miners to build off-grid power plants. “You can build your own power plant next to [your data center]. I mean, think about it for a moment, ”he said.
This pro-business attitude has given rise to America’s mining, but CCAF’s findings suggest a disadvantage: centralization. For years, Bitcoiners China’s dominance, peaking with 65-75% of the global hash rate before its mining of mining in June 2021. ”In 2019, China dominated Global Bitcoin Mining, which accounts for 65-75% of the total Bitcoin network,” a 2025 Nature Communication Study notes. As China banned mining, hashrate spread globally, with many operations moving to the United States, drawn to states with ample energy and favorable policies. This shift caused a 50% market correction, but paved the way for a 130% increase towards the end of the year, demonstrating the market’s resilience.
While China’s historic hashrat concentration never led to network abuse, it was a constant concern. Now, with the US, which has 75% of the hash rate, similar risks occur. The Trump administration is Bitcoin-friendly, but a future administration can become hostile, utilizing centralized hashrate to control the network. Unlike China’s ban, a future US government may be trying to regulate or manipulate mining by means of executive powers such as sanctions to censor transactions – a threat reinforced at the concentration of the mining.
The United States Federal Structure offers potential protection. The division of powers between states and the federal government could enable resistance to federal overreaction. In states with significant mining activity, officials and the public can argue that manipulation of the industry harms Bitcoin’s value and affects investors. Such a resistance can preserve the integrity of the network.
The weakening of the American monetary sanctions regime can play in our advantage. After the 2022 fellowship of Russian Treasury, nations that are incorrectly adapted to US policy have reduced US bond purchases, which undermines the Fiat rails abused in sanctions. The Trump administration is changing towards tariffs for controlling goods rather than money that potentially reduces the threat of monetary censorship. This pivot buys Bitcoin time as centralized hash rate can be a soft measure of federal intervention.
Nevertheless, US Bitcoiners must remain proactive. Department of Bitcoin resolution to integrate it broadly into the economy and all over the world could deter censorship as attacks on the network would hurt personal wealth and spur setbacks. History also shows that miners adapt when the displaced – China’s ban proved it – but the governments learn. A future US administration may not prohibit mining but is trying to control it and exploit centralization.
The Bitcoin industry is facing a critical time. With as much as 75.4% of the hash rate in the United States, even low estimates of 50% are a centralization risk that is well known. Should we diversify globally or leaning into America’s mining dominance? When Lutnick’s vision takes place, Bitcoiners must ensure that these sovereign money remains resilient, regardless of who has the power.