Bitcoin processed over $19 trillion in transactions in 2024, more than double the $8.7 trillion settled in 2023, reversing a two-year decline. Its market cap of $1.9 trillion now surpasses silver’s $1.6 trillion. Key milestones included the introduction of a U.S. Bitcoin ETF, the April halving, and a record $108,000 price.
Hashrate Hits Record Before Pullback
Bitcoin’s network hashrate hit an all-time high of 1,000 EH/s in early 2025 but has since settled around 775 EH/s. U.S.-based pools, like Foundry USA and MARA Pool, controlled 38.5% of blocks mined, but China still leads in hashrate dominance. The true geographic distribution of miners remains obscured due to pseudonymity and VPN usage.
