10 Countries that Mine Most BTC
Key Takeaways
- The U.S. dominates the global Bitcoin mining landscape, leveraging cheap energy, innovative practices, and a favorable regulatory environment, contributing 37% of the total hash rate.
- Despite heavy restrictions, China remains a top player with a 20% share in Bitcoin mining, thanks to its abundant hydropower resources, particularly in the Sichuan region.
- While Kazakhstan and Russia enjoy low electricity costs and favorable mining conditions, increasing regulations and energy challenges could hinder their future contributions.
- Countries like Canada, Norway, and Germany are turning to renewable energy sources, proving that environmentally sustainable mining can coexist with profitability and innovation
Donald Trump is back in the White House, and he’s made his ambitions clear: to transform the US into the world’s leading hub for Bitcoin mining and crypto innovation. According to Forbes, during his campaign and at the Bitcoin 2024 conference, Trump declared, “If crypto is going to define the future, I want it mined, minted, and made in the USA.” The global Bitcoin mining market is vast and lucrative, with nations vying for dominance due to Bitcoin’s decentralized infrastructure’s economic and strategic value. But who are the key players in this high-stakes industry?
This article will uncover the top ten nations leading in Bitcoin mining, exploring how they’ve emerged as key players in this global race.
| Country | Key Mining Pools
(where applicable) |
Hashrate
(approximate) |
Blocks mined annually
(estimated before the halving) |
|---|---|---|---|
| USA | Foundry USA, MARA Pool |
37% | 25,000 |
| China | Antpool, F2Pool | 20% | 13,000 |
| Kazakhstan | BTC.com, Binance Pool | 13% | 8,000 |
| Russia | EMCD, ViaBTC | 11% | 7,000 |
| Canada | Hive Blockchain, Bitfarms | 6% | 4,000 |
| Germany | Private | 5% | 3,000 |
| Iran | Private and underground pools | 4% | 2,500 |
| Malaysia | Local Operations | 3% | 2,000 |
| Norway | KryptoVault, Arcane Green Data | 2% | 1,300 |
| Venezuela | Independent Miners | 1% | 650 |
10 Countries That Mine the Most Bitcoin
Bitcoin mining is measured by hashrate, which represents the computational power miners contribute to the network. The more hashrate a country contributes, the greater its slice of the Bitcoin pie. Let’s see who’s ruling Bitcoin mining.
USA
Key Mining Pools: Foundry USA, MARA Pool
Hashrate Contribution: Approximately 37%
The US stands at the top of the global Bitcoin mining chart, producing approximately 37.8% of the world’s Bitcoin hash rate as of 2024. After China banned crypto mining in 2021, many miners moved their operations to American soil, and the mining scene in America keeps growing.
States like Texas, Georgia, and Kentucky lead the pack because of their cheap electricity and crypto-friendly policies. Texas especially crushes it because of its abundant energy resources and power grid independence.
Fun fact: Miners in Texas can even power down during peak electricity demand and sell their unused power back to the grid – pretty intelligent, right?
American miners use a mix of renewable energy sources and traditional power. Many mining operations tap into solar, wind, and hydroelectric power, while others run on natural gas or coal. Some mining companies have even started using excess natural gas from oil fields that would otherwise get burned off – talk about resourceful!
The regulatory environment in America is generally welcoming compared to other countries. While some states welcome miners with open arms, others set stricter energy usage and environmental impact rules. New York, for example, passed laws requiring miners to use 100% renewable energy.
What makes the US mining operation unique? It features:
- Strong property rights protection
- Stable political environment
- Advanced technological infrastructure
- Access to investment capital
China
Key Mining Pools: Antpool, F2Pool
Hashrate Contribution: Around 20%
China’s relationship with Bitcoin mining is complicated. Even with the government cracking down on crypto, China remains near the top in Bitcoin mining.
How? It’s all about the Sichuan region. With its crazy amounts of hydropower, especially during the rainy season, Sichuan becomes the perfect spot for miners to set up shop.
Most miners there have to operate stealthily. The government isn’t exactly handing out “Bitcoin Miner of the Year” awards, so miners must get creative to stay off the authorities’ radar. Even with all that heat, China’s miners still crank out more 20% of the global hash rate. That’s a huge deal considering the challenges they face. It’s kind of impressive when you think about it—dodging bans and still being a major player in the Bitcoin scene.
There’s a lesson in this: even when things look bleak, people find ways to adapt. For China’s miners, it means balancing the benefits of cheap energy with the risks of a government crackdown. China’s role in mining might seem contradictory, but it’s proof that where there’s demand, people find a way to meet it. That determination keeps them in the game, even when the odds don’t look great.
Kazakhstan
Key Mining Pools: BTC.com, Binance Pool
Hashrate Contribution: Approximately 13%
Kazakhstan has become a Bitcoin mining hotspot for one simple reason: cheap electricity. The country’s substantial energy reserves make it a dream location for miners looking to maximize profits. Big mining pools like BTC.com and Binance Pool have set up shop here, helping Kazakhstan claim about 13% of the global hashrate.
But there’s a downside to this setup. The mining boom has severely strained the country’s power grid. Frequent blackouts and energy shortages have become part of the story, which definitely throws a wrench into mining operations. On top of that, the government isn’t exactly rolling out the red carpet anymore.
Still, Kazakhstan is a major player in Bitcoin mining, thanks to its low costs and mining-friendly infrastructure. The question is, how long can that last? With stricter regulations and ongoing energy challenges, miners might look for greener pastures—literally and figuratively.
Russia
Key Mining Pools: EMCD, ViaBTC
Hashrate Contribution: 11%
The country’s freezing temperatures and cheap energy create perfect conditions for mining. Cold weather means mining rigs don’t overheat as easily, and affordable power keeps operational costs low. Thanks to these advantages, Russia contributes about 11% of the global Bitcoin hashrate, making it a key player.
But nothing is ever that simple, right? Geopolitical tensions and international sanctions have thrown a wrench into Russia’s mining operations. Many miners now face hurdles when accessing the global financial system or upgrading their equipment with parts from other countries. That’s a big deal because Bitcoin mining relies heavily on advanced tech, and getting cut off from international suppliers puts miners in a tough spot.
Some Russian miners take a different approach to continuing to mine. Renewable energy sources like wind and solar have caught their attention. These options help cut costs and sidestep some of the scrutiny miners face over energy consumption. The government is also applying new regulations that will affect Bitcoin mining operations.
Canada
Key Mining Pools: Hive Blockchain, Bitfarms
Hashrate Contribution: 6%
Hydropower plays a huge role in Canada, giving miners an energy source that’s renewable, reliable, and much better for the planet than fossil fuels. With 6% of the global hashrate under its belt, Canada shows how mining can evolve into something more sustainable without losing its competitive edge.
One of the big perks for Canadian miners is the country’s infrastructure. Mining companies like Hive Blockchain and Bitfarms operate in regions with solid electricity grids, and the climate is cold enough to help mining rigs stay cool. That kind of efficiency is a win-win—it keeps equipment running smoothly and reduces energy waste.
Canada also benefits from a government that isn’t hostile to crypto mining. Instead of banning or overregulating, officials have worked with the industry to find a middle ground. This approach allows the country to stay competitive while monitoring energy use and environmental impact. Miners appreciate this balance because it offers stability in an unpredictable market.
Canada keeps itself in the Bitcoin mining spotlight by focusing on clean energy and smart policies. The country isn’t just mining—it’s building a roadmap for how mining can work better for everyone.
Germany
Key Mining Pools: Private
Hashrate Contribution: 5%
Germany might not be the first country you think of when it comes to Bitcoin mining, but it holds its own in the global scene with 5% of the hashrate. The country’s high electricity costs make mining there a bit of a head-scratcher at first glance. However, Germany proves that strategy matters just as much as cheap energy.
Renewable energy is a big part of the story. Germany uses wind, solar, and even bioenergy to keep its mining operations eco-friendly. While the electricity may not come cheap, the focus on sustainability gives Germany’s miners an edge. According to the International Energy Agency, Germany leads Europe in renewable energy adoption, with renewables accounting for nearly 50% of its electricity mix.
Germany’s success in mining is all about combining smart policies, green energy, and goodtech. The country is among the world’s top Bitcoin miners even with high energy costs. It’s proof that being smarter, not just cheaper, can keep you in the game.
Iran
Key Mining Pools: Private, Underground Pools
Hashrate Contribution: 4%
Iran plays an unexpected role in Bitcoin mining, contributing around 4% of the global hashrate. With some of the cheapest electricity in the world, the country attracts miners who want to cut down on operating costs. Hydropower, natural gas, and other energy resources make mining here especially affordable. However, cheap electricity isn’t the whole story. Miners in Iran face unique challenges that make the country a tricky place to operate.
Economic sanctions have isolated Iran from many international financial systems, forcing miners to get creative. For instance, Bitcoin acts as a workaround, allowing them to participate in the global economy without relying on traditional banking systems. However, sanctions also make it harder to import high-tech mining equipment, pushing many miners to use older or less efficient rigs.
Another hurdle comes from the government. Iran swings between supporting and cracking down on Bitcoin mining. On one hand, officials have legalized mining to capitalize on the industry. On the other hand, sudden crackdowns occur during energy shortages when the government blames miners for straining the grid. Many miners responded by going underground and setting up operations in hidden locations to avoid detection.
Iran’s role in Bitcoin mining highlights how economic struggles and resource abundance can intersect. By finding creative ways to operate in such a volatile environment, miners continue contributing to the network while navigating ever-changing challenges.
Malaysia
Key Mining Pools: Local Operations
Hashrate Contribution: 3%
Malaysia may not be one of the top players in Bitcoin mining, but it still contributes about 3% of the global hashrate. Miners in the country take advantage of relatively affordable energy prices and a workforce that knows its way around technology. These factors make Malaysia a good place for smaller-scale mining operations to thrive.
One key advantage is the availability of hydroelectric power. States like Sarawak offer electricity at lower rates, making it an attractive location for mining. However, lower costs alone don’t make things simple. Malaysia’s government has taken a mixed stance on the industry, creating a shifting environment for miners. On one hand, authorities sometimes recognize mining as a legitimate business. On the other, crackdowns occur when miners bypass regulations or steal electricity. In 2021, the government even destroyed over 1,000 mining rigs that were being used illegally, as reported by CNBC.
Even with those challenges, Malaysia’s miners find ways to stay competitive. Small, local mining pools dominate the scene, focusing on efficient operations. The country’s tech-savvy population also plays a role, with many individuals and companies leveraging their knowledge of blockchain and mining hardware to improve profitability.
Norway
Key Mining Pools: KryptoVault, Arcane Green Data
Hashrate Contribution: 2%
Norway contributes 2% of global Bitcoin mining activity. The country’s mix of abundant hydropower and a strong commitment to sustainability gives it a competitive edge. With an energy grid primarily powered by renewable resources, Norway has become a top destination for eco-conscious miners looking to reduce their environmental footprint.
Mining pools like Arcane Green Data are leading the charge, using Norway’s clean hydropower to mine Bitcoin efficiently and environmentally friendly. What makes Norway’s Bitcoin mining stand out?
- Clean hydropower as the primary energy source
- Focus on sustainability and eco-friendly practices
- Cutting-edge cooling technologies
- A supportive regulatory environment for green energy initiatives
Venezuela
Key Mining Pools: Independent Miners
Hashrate Contribution: 1%
Venezuela contributes about 1% of the global Bitcoin mining hash rate. The economic crisis has created an opportunity for miners, despite challenges for other industries. Cheap electricity allows miners to fight inflation and earn income, which is impossible in places with high energy costs.
While cheap energy is a huge draw, Venezuela’s Bitcoin mining scene isn’t without its risks. The country’s unreliable infrastructure and ongoing political instability create a challenging environment for miners. Power outages are frequent, and the government has cracked down on cryptocurrency operations in the past. These factors make it hard for miners to maintain consistent operations or even secure their equipment from potential government interference.
Despite these obstacles, independent miners are still finding ways to make the most of the situation. Many set up rigs in remote areas, using the country’s cheap energy to mine Bitcoin and other cryptocurrencies. This decentralized approach to mining—fueled by necessity rather than opportunity—has kept the industry alive in a country that’s seen its fair share of economic turmoil.
Venezuela offers a compelling but risky option for miners looking to take advantage of cheap energy. Despite the political and infrastructure hurdles, those who can navigate the situation still manage to contribute to the global Bitcoin network.
Closing Thoughts
In the race for Bitcoin mining supremacy, nations have carved out distinct paths to dominate this emerging sector. From the energy-rich landscapes of the USA to the resourceful ingenuity in China’s clandestine operations, each country contributes uniquely to the global Bitcoin ecosystem. The dynamics of Bitcoin mining go beyond mere hash rates; they encompass energy policies, economic strategies, and even geopolitical maneuvers. Whether it’s the eco-friendly approaches of Norway or the cost-efficient strategies in Kazakhstan, these countries are shaping the future of digital currency. As Trump envisions making the U.S. a crypto powerhouse, it’s clear that this global race is only heating up, with diverse players bringing unique strengths to the table.
Curious about mining Bitcoin? Explore the comprehensive article on how to mine Bitcoin.
