The world’s Bitcoin mining power will be reshaped in the final quarter of 2025. According to the newly released Q4 2025 Global Hashrate Heatmap report, the United States, Russia, and China still account for the majority of the global hashrate.
The report reveals that the United States has strengthened its leadership. The country accounted for 37.8% of the global Bitcoin hash rate (approximately 389EH/s), an increase of 1.95 percentage points quarter-on-quarter. This increase is notable as part of a consistent upward trend through 2025.
The United States is followed by Russia (15.5%) (160 EH/s) and China (14.1%) (145 EH/s). Together, these three countries control approximately 68% of the world’s hashpower. The report says mining remains concentrated in certain areas.
Among emerging 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 with 1.9%. On the African continent, the rise of Ethiopia is particularly remarkable.
The countries with the highest gains in the report were Laos (+0.22 points), Bolivia (+0.21 points) and Georgia (+0.17 points), while the countries with declines were the UAE (-0.34 points), Kazakhstan (-0.19 points) and Argentina (-0.17 points).
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) EH/s) Kazakhstan — 2.1% (~22 EH/s) Ethiopia — 1.9% (~20 EH/s) Indonesia — 1.6% (~17 EH/s)
According to the report, the US share in hash power increased, while Russia’s global share decreased by more than 1 percentage point. Although both countries are expanding their total mining capacity, Russia’s growth rate has lagged behind that of the United States and China.
The global hashrate distribution shows that even though Bitcoin mining is taking place in an increasing number of countries, the risk of centralization remains high.
*This is not investment advice.