Hashrate Distribution Around the Globe

Top countries in the Bitcoin mining game as of late 2025: 1. USA 37.8% 2. Russia 15.5% 3. China 14.1% 4. Paraguay 3.9% 5. UAE 3.2% 6. Oman 2.9% 7. Canada 2.9% 8. Kazakhstan 2.1% 9. Ethiopia 1.9% 10. Indonesia 1.6% This concentration is crazy!

Not sure these numbers are spot on. A lot of miners are probably using VPNs, especially in the US and Europe, making this data kinda sketchy.

For real. Those top players like the US and Russia are expected to dominate. But yeah, it's likely that some places are benefiting from super cheap electricity.

Doubt many miners are rocking VPNs but I get your point. The real issue is the source of this data... it looks like it’s mainly from one place, so it could be misleading.

True, even in Russia, the underground mining scene has really mixed numbers. Whenever you ask, no one gives solid figures. China’s situation is wild since mining is underground now.

Totally believe you, but I don’t think most miners are using VPNs. Probably just a small fraction. You nailed it about electricity costs though, that's a major hurdle for developing areas.

Paraguay makes sense with cheap hydro. But how come Oman and UAE are in there? Heat isn’t friendly to mining gear, right?

Exactly. Above 40 degrees, air cooling doesn't cut it. They’re doing immersion cooling, and yeah, there’re projects turning waste energy from oil into power.

Spot on! If there’s a ban in a region, miners gotta be careful with their locations. Adding average electricity rates would clear up why mining is heavy in some places and absent in others.

In Moscow, prices for electricity fluctuate. Big factories get sweet deals, sometimes even selling their surplus to miners. Plus, gas is super cheap, so it’s a win for them!