This year, an interesting phenomenon has emerged in the Bitcoin mining community. Foundry USA, MARA Pool, and Luxor Technologies, three North American mining pools, collectively accounted for 40% of Bitcoin blocks in January last year. By December this year, their combined share has dropped to around 35%. It may not seem like much, but what does this mean? It indicates that the North American mining landscape is becoming more decentralized.

In the past, mining pool concentration was high, with a few large pools dominating the market. Now? The distribution of blocks has become more dispersed. This could be because miners are seeking better returns or the rise of new mining pools is dividing the pie. For those interested in participating in Bitcoin mining, this means more options but also more competition.

This shift in the distribution of Bitcoin's total network hash rate, to some extent, reflects the evolution of the mining industry — moving away from absolute oligopoly towards a healthier competitive landscape.