The Latest Bitcoin Mining Report Has Been Released! The Balance Is Shifting! Here Are the Details

Global Bitcoin mining power is reshaping in the final quarter of 2025. According to the newly released Q4 2025 Global Hashrate Heatmap report, the US, Russia, and China still hold the majority of global hash rate.

The report reveals that the US has consolidated its leadership. The country has increased by 1.95 percentage points quarter-over-quarter, accounting for 37.8% of the global Bitcoin hash rate (approximately 389 EH/s). This increase is notable as part of a consistent upward trend through 2025.

Following the US, Russia (15.5%) (160 EH/s) and China (14.1%) (145 EH/s) share. Together, these three countries control approximately 68% of global hash power. According to the report, mining is still heavily concentrated in specific regions.

Among the rising countries, countries in South America and the Middle East stand out. Paraguay rose to fourth place with 3.9%, followed by the United Arab Emirates with 3.2%, Oman with 2.9%, and Ethiopia, entering the list for the first time, with 1.9%. On the African continent, Ethiopia's rise is particularly striking.

The report's biggest gainers included Laos (+0.22 points), Bolivia (+0.21 points) and Georgia (+0.17 points), while the UAE (-0.34 points), Kazakhstan (-0.19 points) and Argentina (-0.17 points) were the countries experiencing declines.

USA — 37.8% (~389 EH/s) Russia — 15.5% (~160 EH/s) China — 14.1% (~145 EH/s) Paraguay — 3.9% (~40 EH/s) UAE — 3.2% (~33 EH/s) Oman — 2.9% (~30 EH/s) Canada — 2.9% (~30 EH/s) Kazakhstan — 2.1% (~22 EH/s) Ethiopia — 1.9% (~20 EH/s) Indonesia — 1.6% (~17 EH/s)

According to the report, while the US's share of hash power increased, Russia's global share fell by more than 1 percentage point. While both countries are increasing their total mining capacity, Russia's growth rate lags behind that of the US and China.

The global hashrate distribution shows that even though Bitcoin mining is operating in more and more countries, the risk of centralization remains high.