Bitcoin is often celebrated as a decentralized network, with mining power distributed globally to ensure security and neutrality. However, a closer look at mining activity suggests that this decentralization may not be as evenly distributed as it appears. While individual theories can participate in mining, the majority of the network’s hash power is concentrated among a relatively small number of large mining pools and geographic regions.
Why Bitcoin’s Mining Distribution Deserves A Closer Look
Bitcoin mining is not as globally decentralized as many assume. Analyst Lucky revealed on X that while the network is technically permissionless, a significant share of its hashpower is still concentrated in a few regions.
Furthermore, estimates suggest that roughly 68% BTC mining power is distributed across three major countries: the United States, China, and Russia. This concentration is not coincidental but driven by fundamental factors such as infrastructure, energy access,
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