Following China’s sweeping crackdown on Bitcoin mining activity, the United States has now emerged as the top country in hash rates.

According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), Bitcoin (BTC) miners in America account for 35.4% of the total global distribution of the BTC mining hash rate.

CBECI data also shows Kazakhstan (18%) and Russia (11%) as the next major Bitcoin mining hubs outside of the United States. These three countries have gained significant market share following the ban on crypto mining in China.

In June, TBEN announced that BTC.com, one of China’s largest Bitcoin miners, was moving to Kazakhstan.

Source: CBECI

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.

The United States, which accounts for the largest share of the global hash rate distribution, is likely completing the expected east-west migration of miners after the Beijing crackdown.

In addition to the crackdown in China, North American cryptocurrency mining establishments have increased their capacity with significant additions to their material capacity.

US miners like Argo Blockchain, Riot Blockchain, Marathon and several orders have bought large orders of mining rigs from big manufacturers like Bitmain and MicroBT.

Related: Argo Blockchain Secures $ 25 Million Bitcoin Backed Loan From Galaxy Digital

Earlier in October, TBEN announced that Riot Blockchain had tripled its production capacity in 2021 with 2,457 BTC mined during the period.

Places like Texas and Ohio are also expected to host Bitcoin mega mining centers that will further increase the production capacities of US crypto miners.

As previously reported by TBEN, BIT Mining recently signed a joint venture agreement with Viking Data Centers to build an 85 megawatt Bitcoin mining facility in Ohio.

The expansion of the US Bitcoin mining space has also seen more and more companies list on the US stock markets.

The post U.S. Dominates Global Bitcoin Hash Rate Distribution After China Crackdown appeared first on The Bharat Express News.

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