State and trends in the global Bitcoin mining industry
Bitcoin mining has grown from a small computer network running on regular processors (CPUs) to a global industry whose energy consumption ranks just behind gold mining and the banking system, comparable to the energy usage of some small countries.
As of June 2025, the difficulty of Bitcoin mining has reached a record 126 T, and the total hash rate (total computational power) of the network has approached 1000 EH/s.
Many countries are competing in the race for dominance in the mining industry. This article will explore the state of the mining sector in 2025.
USA continues to lead in mining
According to data from the HashRate Index for 2025, the USA accounts for more than 36% of the entire Bitcoin network's hash rate — 70% more than China's share, which is the second-largest globally. Most of the hash rate is concentrated in the state of Texas.
Despite its dominance in the field, as of June 2025, Bitcoin mining in the United States remains unregulated. However, several legislators have already proposed relevant initiatives.
One of them is the Financial Innovation and Technology for the 21st Century Act (FIT21), which aims to eliminate regulatory uncertainty in mining and clearly define the roles of supervisory bodies, such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
In addition, bills are being developed in individual states. For example, in Michigan, a package of laws has been adopted that encourages cryptocurrency mining alongside environmental initiatives, also known as "green mining." The U.S. Senate is also considering a bill that would allow mining companies to use exhausted natural gas.
Mining in China: should we expect a thaw?
In 2021, China banned Bitcoin and other cryptocurrency mining and transactions due to the high risks and volatility associated with cryptocurrencies. This was one of the main reasons for the migration of the mining business from China to the USA and other countries. The ban led to a drop in the price of Bitcoin by more than 8%.
However, in 2022, despite the restrictions, Chinese miners resumed cryptocurrency mining. This was made possible by using methods to bypass the blocks, such as VPNs, which allow miners to conceal the actual location of their mining equipment.
By circumventing the bans, China solidified its position in the global mining ranking. Chinese miners now account for 21.1% of the Bitcoin network's total hash rate.
Meanwhile, the Chinese government continues to tighten rules for cryptocurrency users. For example, in December 2024, the Chinese currency regulator introduced new regulations requiring the blocking of bank transactions related to cryptocurrencies.
Kazakhstan: transparency of Bitcoin mining in 2025
Amid the migration of miners from China, Kazakhstan entered the top three leaders in mining volume, accounting for 13.22% of the total Bitcoin network hash rate.
Although the Kazakh government introduced strict rules for miners in 2022, requiring licenses for legal business operations, the authorities support the industry's push for transparency and are enhancing measures to combat violators.
In April 2023, the "Digital Assets in the Republic of Kazakhstan" bill came into effect, establishing the legal status of crypto-assets and new requirements for mining companies. In addition to mandatory licensing, the government requires miners to adhere to individual energy quotas and pay a 20% corporate income tax. Miners must also sell at least 75% of the cryptocurrency they mine.
Bitcoin mining in the EU
Despite high electricity costs, the European Union is not lagging behind major mining countries. Germany leads the market, accounting for just over 3% of the total Bitcoin network's hash rate. Moreover, Germany has become one of the EU countries implementing environmental initiatives in the mining sector, introducing carbon taxes.
Following Germany in hash rate is Sweden, though its share is less than 1%. While the Swedish government initially considered banning Bitcoin mining, it ultimately limited itself to imposing high tax levies.
Bitcoin mining is not separately regulated in the EU; however, the Markets in Crypto-Assets (MiCA) bill, which came into effect in July 2024, requires companies to report income from digital asset mining. The MiCA bill also mandates that miners obtain licenses and disclose the sources of energy used for cryptocurrency mining.
Conclusion
Bitcoin mining today has evolved into a global, highly competitive industry with a significant emphasis on environmental initiatives. For example, in the European Union, miners pay additional fees for using electricity generated from fossil fuels, also known as "dirty" electricity.
In the USA, Canada, and Scandinavia, large mining farms actively use solar, wind, and hydroelectric power, contributing to the "greening" of the digital asset extraction sector. Scandinavia, comprising Sweden, Norway, and Iceland, remains one of the world's primary mining hubs due to its access to inexpensive electricity.