Bitcoin Mining Remains Concentrated Despite Growing Competition
Three countries dominate Bitcoin mining, but a new competitor is emerging.
- Three countries control 66% of Bitcoin's hashrate, according to Hashrate Index.
- Bitcoin network hashrate stands at 965 EH/s with difficulty at 132.7T.
- The market remains relatively stable with Bitcoin at $47,607 and Fear & Greed at 73.
According to Hashrate Index's October report, approximately two-thirds of 
Bitcoin's estimated hashrate is concentrated in three countries. This data, which measures geographic distribution rather than ownership or pool control, underscores the significant centralization of Bitcoin mining operations.
The Bitcoin network's current hashrate is 965 EH/s, with a difficulty level of 132.7T, according to verified on-chain data from mempool.space. This high hashrate indicates a robust and secure network, despite the concentration of mining power.
While the exact countries are not specified in the report, the dominance of a few regions in Bitcoin mining has been a topic of discussion in the crypto community. This centralization raises concerns about potential vulnerabilities and regulatory risks. However, the emergence of new competitors suggests a possible shift in the future.
In the broader market context, the total crypto market cap is $2.98 trillion, with Bitcoin trading at $47,607, representing a slight 24-hour decline of 0.11%. The overall market remains relatively flat, with a Fear & Greed index of 73, indicating a sentiment of 'Greed' among investors.
The concentration of mining power in a few countries highlights the need for a more decentralized mining landscape. As the industry evolves, the entry of new competitors could lead to a more balanced distribution of mining resources, potentially enhancing the network's resilience and security.
At today's peer-to-peer rate, 1 BTC ≈ ₦116.95M (about $85,591.00), down 0.4% over 24 hours. The naira itself trades about 2.7% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 6, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Bitcoin — questions
How much is 1 Bitcoin worth in naira today?
About ₦116.95M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $85,591.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CryptoSlate. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.