Coin Metrics: Bitmain Hardware Accounts for 76% of Global Hashrate

A Coin Metrics report suggests that as much as 76% of the world’s bitcoin hashrate comes from Bitmain’s machines. Analysts highlight potential supply chain risks due to geopolitical issues and the heavy reliance on one manufacturing source. This level of concentration has sparked debates over the need for greater diversification in mining hardware.

Coin Metrics also notes that growing demand for more efficient ASIC models fuels advanced research and development. However, high initial costs and chip shortages make it difficult for smaller manufacturers to compete effectively. Meanwhile, major companies like Canaan are enhancing their presence via strategic partnerships and expanded product lines.

Experts believe the current trend may drive market consolidation further if newcomers cannot offer hardware with comparable efficiency.