Despite Bitcoin’s recent price underperformance, the Bitcoin Hashrate has been going absolutely vertical, breaking all-time highs with seemingly no regard for macro headwinds or sluggish price action.

Bitcoin’s mining power and network difficulty surged to highs this week, as market optimism for a bull rally grows ahead of US interest rate decisions to be made at the September 16-17 FOMC meeting.

A new report from Bernstein reveals a significant shift in the Bitcoin (CRYPTO: BTC) mining landscape, with just twelve companies now controlling a substantial 30% of the network’s total hash rate.