Bitcoin Mining in 2025: The 10 Countries Dominating the BTC Landscape

• The U.S.: The Unrivaled Bitcoin Mining Superpower
• Russia & China: The Shadow Giants
• Kazakhstan: The Boom-Bust Wildcard
• Bhutan’s Himalayan Mining Miracle
• The Outsiders Club
• Key Takeaways
• FAQs: Bitcoin Mining in 2025

The global bitcoin mining industry is undergoing a seismic shift, with powerhouses like the U.S. and China jostling for dominance while unexpected players like Bhutan and Oman emerge as dark horses. This article breaks down the geopolitical, regulatory, and energy dynamics shaping the future of BTC mining—revealing who’s leading, who’s lagging, and why your next mining rig might be headed to the Himalayas.

The U.S.: The Unrivaled Bitcoin Mining Superpower

After China’s 2021 mining ban, the U.S. seized the crown with states like Texas, Wyoming, and the Midwest leveraging deregulated energy markets and renewable resources. Texas alone contributes 28% of the national hashrate, using stranded wind energy and flared natural gas. But challenges loom: regulatory uncertainty in Washington and environmental concerns (150 TWh annual consumption) threaten its lead. Fun fact: Some Texan miners now dual-purpose their facilities for AI workloads—talk about hedging your bets!

Russia & China: The Shadow Giants

Despite crackdowns, these nations remain influential through backdoor operations and hardware manufacturing:

Russia’s Siberian Advantage

With electricity as low as $0.03/kWh in Irkutsk and state-backed mining initiatives, Russia’s hashrate could hit 22% globally by 2025. But sanctions and tax evasion (70% of miners operate unregistered) stifle growth. Pro tip: Their ASIC smuggling routes through Kazakhstan WOULD make a great spy thriller.

China’s Stealth Mining Empire

Though officially banned, underground farms persist in Sichuan’s hydropower-rich regions. More crucially, Chinese firms like Bitmain control 65% of global ASIC production—proving you can ban mining but not influence.

Kazakhstan: The Boom-Bust Wildcard

Post-China ban, Kazakhstan became a mining haven with $0.05/kWh energy… until illegal operations overloaded its grid. The government’s new "invest-in-power-plants-for-mining-rights" scheme aims to stabilize the sector. Will it work? Ask the 415,000 registered rigs sweating it out NEAR Ekibastuz.

Bhutan’s Himalayan Mining Miracle

This kingdom turned its 99% hydropower grid into a Bitcoin treasury, mining an estimated 50,000 BTC (worth ~$3B in 2025). Profits fund social programs while maintaining carbon-negative operations. Take notes, Elon.

The Outsiders Club

These underdogs are rewriting the rulebook:

El Salvador’s Volcanic Vault

Beyond adopting BTC as legal tender, they’re mining 474 BTC using geothermal vents. Their stalled "Bitcoin City" project? Still more realistic than most metaverse plans.

Paraguay’s Hydropower Paradox

Itaipu Dam’s cheap energy attracts miners—and rampant piracy. Authorities now jail illegal operators, proving crypto anarchy has limits.

Oman’s Gas-Powered Gamble

$1B invested to convert flared gas into mining fuel (at $0.05/kWh). Because why waste energy when you can mint digital gold?

Canada’s AI Pivot

Quebec’s hydro miners increasingly repurpose facilities for AI data centers. When your energy’s 95% green, you’ve got options.

Iceland’s Geothermal Goldmine

Free cooling + 100% renewables = mining nirvana. Their secret? Literally tapping into volcanoes.

Key Takeaways

The 2025 mining map reveals three truths: 1) Energy arbitrage is king, 2) Regulation giveth and taketh away, and 3) Small nations can punch above their weight with niche strategies. As institutional players dominate, expect more hybrid operations blending mining with AI and HPC. One thing’s certain—the next mining hotspot might be where you least expect it.

FAQs: Bitcoin Mining in 2025

Which country mines the most Bitcoin?

The U.S. leads with ~38% of global hashrate, driven by Texas’ energy markets and institutional investment.

Is China still involved in Bitcoin mining?

Officially no, but covert farms persist, and Chinese manufacturers dominate ASIC production.

Why is Bhutan mining Bitcoin?

To monetize excess hydropower—their BTC holdings now equal ~28% of GDP, funding social programs.

What’s the biggest challenge for miners?

Balancing profitability with ESG pressures; 60% of new mining operations now require renewable energy contracts.