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Hashrate Index estimates that the United States, Russia and China together represented 65.6% of global Bitcoin hashrate in Q1 2026—about 66%. The same estimate shows rapid growth in several smaller mining markets, including Pakistan, Kyrgyzstan and Ethiopia. These are estimates for a specific quarter, not an official census or a permanent ranking.
Which countries mine the most Bitcoin?
Hashrate Index’s Q1 2026 Global Hashrate Heatmap, published January 12, 2026, estimates the following shares of global Bitcoin hashrate:
| Country | Estimated share, Q1 2026 |
|---|---|
| United States | 37.5% |
| Russia | 16.4% |
| China | 11.7% |
| Combined | 65.6% |
The combined share is 65.6%, rounded to 66%. These figures are Hashrate Index’s country-level estimates; they should be read with the publisher and quarter attached, rather than as a definitive or lasting count. Hashrate Index’s Q1 2026 Global Hashrate Heatmap
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Which mining markets are gaining?
The heatmap reports several notable increases in estimated hashrate. Comparing both growth rates and estimated EH/s helps show why a fast-growing market is not automatically a leading one:
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| Country | Q1 2026 estimated hashrate | Change reported by Hashrate Index | Context |
|---|---|---|---|
| Pakistan | 4 EH/s, up from 0.3 EH/s | +1,233% quarter over quarter | Rapid increase from a small base |
| Kyrgyzstan | 4 EH/s, up from 1.5 EH/s | +167% quarter over quarter | Rapid increase from a small base |
| Ethiopia | 27.5 EH/s, up from 20 EH/s | +38% quarter over quarter | Hashrate Index places it eighth in Q1 2026, versus tenth a year earlier |
Ethiopia’s estimated hashrate was also up 129% year over year, from 12 EH/s to 27.5 EH/s, in Hashrate Index’s Q1 2026 estimate. Pakistan and Kyrgyzstan’s striking quarterly percentages start from much smaller reported levels. None of these growth rates makes a country a new top-three competitor in this dataset. Hashrate Index’s Q1 2026 Global Hashrate Heatmap
What does Bitcoin hashrate share mean?
Bitcoin mining uses computational power to compete to add valid blocks to the network. Hashrate is a measure of that computing power; a country’s estimated share is an estimate of how much of the network’s total mining power is located there. EH/s means exahashes per second, a unit of hashrate.
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Country shares are not a count of miners, mining companies, or facilities. They are also not a direct measure of electricity use, emissions, or ownership. Those measures may be related to mining activity, but they answer different questions.
Why do estimates of Bitcoin mining by country disagree?
Different sources measure different populations and use different methods. Hashrate Index publishes country hashrate estimates. By contrast, the Cambridge Centre for Alternative Finance’s 2025 industry report summarizes survey responses from 49 mining firms operating across 23 countries. The reported data represented 48% of global mining activity.
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As of June 30, 2024, Cambridge’s survey respondents reported that 75.4% of their activity was in the United States and 7.1% in Canada. Those are weighted survey-reported activity figures, not a census of all national hashrate, and their basis differs from Hashrate Index’s estimated global country shares. The figures should not be averaged or treated as competing measurements of the same thing. Cambridge Centre for Alternative Finance’s 2025 report
Cambridge Research Lead for Digital Assets Energy and Climate Impact Alexander Neumueller said the report “directly addresses a persistent data gap by relying on direct practitioner insights rather than abstractions.” The report’s participant-based approach provides direct industry responses, but its stated coverage is still partial.
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Measurement is difficult in part because mining operations can be hard to identify among electricity customers, facility power use may be unclear, and miners can move to seek cheaper electricity. The U.S. Energy Information Administration explained these challenges in 2024 and noted that Cambridge’s electricity-consumption estimates use a hybrid top-down model with lower and upper bounds as well as a best estimate. U.S. Energy Information Administration, 2024
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The EIA also cited Cambridge’s historical estimate that the United States held 37.8% of global hashrate in January 2022, describing that as the last month for which its cited series had a published country estimate. That historical figure is not a current U.S. share and should not be substituted for the Q1 2026 estimate.
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What the country figures do—and do not—say about energy
Cambridge’s 2025 report estimated annual Bitcoin electricity consumption at 138 TWh and network emissions at 39.8 MtCO2e. The estimates drew on reported data representing 48% of global mining activity; they are not a country-by-country breakdown.
For energy mix, Cambridge reported a survey-based estimate of 52.4% sustainable energy use, comprising 42.6% renewables and 9.8% nuclear. Its reported mix also included 38.2% natural gas and 8.9% coal. These are energy-source shares from the report’s survey-based analysis, not national mining shares. Cambridge Centre for Alternative Finance’s 2025 report
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