Following China’s massive crackdown on Bitcoin mining, the United States has risen to the top of the hash rate rankings.
Bitcoin (BTC) miners in the United States account for 35.4% of the worldwide BTC mining hash rate distribution, according to the Cambridge Bitcoin Electricity Consumption Index (CBECI).
Kazakhstan (18%), Russia (11%) are the next two largest Bitcoin mining centres outside of the US, according to CBECI statistics. Following China’s prohibition on crypto mining, these three countries have gained a substantial market share.
BTC.com, one of China’s top Bitcoin miners, announced in June that it will be moving to Kazakhstan.
US is likely to complete the predicted East-West miner movement
The fact that China has a 0% hash rate, according to CBECI statistics, is maybe of special relevance. Despite the prohibition, it’s conceivable that hidden mining activities are still going on.
Following Beijing’s clampdown, the United States, which accounts for the largest part of worldwide hash rate distribution, is likely to complete the predicted East-West miner movement.
Apart from the Chinese crackdown, crypto mining operations in North America have been expanding their capacity by significantly increasing their hardware capacity.
Argo Blockchain, Riot Blockchain, Marathon. And numerous more American miners have placed big orders for mining equipment from prominent manufacturers like Bitmain and MicroBT.
Riot Blockchain has previously said that it will treble its production capacity in 2021. With 2,457 BTC mined during that time.
Mega Bitcoin mining hubs are likely to spring up in places like Texas and Ohio. Boosting the output capacity of U.S. crypto miners even more.
As previously reported, BIT Mining and Viking Data Centers recently signed a joint venture deal to develop an 85-megawatt Bitcoin mining facility in Ohio.
With the growth of BTC mining in the US, more firms are pursuing public listing on American stock exchange platforms.