{"id":141613,"date":"2021-10-13T12:49:23","date_gmt":"2021-10-13T12:49:23","guid":{"rendered":"https:\/\/precoinnews.com\/?p=141613"},"modified":"2021-10-13T12:49:23","modified_gmt":"2021-10-13T12:49:23","slug":"us-dominates-global-bitcoin-hash-rate-distribution-after-china-crackdown","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/us-dominates-global-bitcoin-hash-rate-distribution-after-china-crackdown\/","title":{"rendered":"US dominates global Bitcoin hash rate distribution after China crackdown"},"content":{"rendered":"
Following sweeping crackdowns by China against Bitcoin mining activity, the United States has now emerged as the leading nation in terms of hash rate.<\/p>\n
According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), Bitcoin (BTC) miners in America account for 35.4% of the total global BTC mining hash rate distribution.<\/p>\n
CBECI data also shows Kazakhstan (18%) and Russia (11%) as the next major Bitcoin mining centers outside the United States. These three nations have gained significant market share in the wake of China\u2019s crypto mining ban.<\/p>\n
Back in June, Cointelegraph reported that BTC.com, one of the largest Chinese Bitcoin miners, was relocating to Kazakhstan.<\/p>\n
<\/p>\n
Perhaps of particular interest is the fact that CBECI data shows a 0% hash rate from China. However, it is possible that covert mining operations are still ongoing despite the ban.<\/p>\n
The United States accounting for the greatest share of global hash rate distribution likely completes the expected East\u2212West miner migration following Beijing\u2019s clampdown.<\/p>\n
Apart from the China crackdown, North American crypto mining establishments have been upscaling their capacity with significant additions to their hardware capacity.<\/p>\n
American miners like Argo Blockchain, Riot Blockchain, Marathon, and several orders have purch large orders of mining rigs from major manufacturers like Bitmain and MicroBT.<\/p>\n
Related: <\/em><\/strong>Argo Blockchain secures $25M Bitcoin-backed loan from Galaxy Digital<\/em><\/strong><\/p>\n Earlier in October, Cointelegraph reported that Riot Blockchain had tripled its production capacity in 2021 with 2,457 BTC mined during the period.<\/p>\n Places like Texas and Ohio are also expected to play host to mega Bitcoin mining centers that will increase the production capacities of U.S. crypto miners even further.<\/p>\n As previously reported by Cointelegraph, BIT Mining recently inked a joint venture agreement with Viking Data Centers to build an 85 megawatts Bitcoin mining facility in Ohio.<\/p>\n The expansion of the U.S. Bitcoin mining space has also seen more companies pursuing a public listing on American stock exchange markets.<\/p>\n