US Overtakes Russia in Bitcoin Mining and Adoption

Five years ago, Russia and the United States shared the second-largest share of Bitcoin's hashing power, each holding 7.2%. Since then, Russian companies have increased their mining output by 117%, while American companies have expanded theirs by 400%, allowing the US to surpass Russia significantly in computational capacity. In the first quarter of 2025, publicly traded US mining firms earned around $800 million, compared to an estimated $344 million for Russian players—a 57% smaller amount. Moreover, the US not only leads in mining but also in the level of cryptocurrency adoption.