US dominates Bitcoin hash rate distribution globally after China crackdown
Bitcoin hash rate – The United States has emerge the leading nation considering hash rate as china crackdown on Bitcoin mining activity.
A data from the Cambridge Bitcoin Electricity Consumption Index (CBECI), asserts that BTC miners in America account for 35.4% of the total global BTC mining hash rate distribution.
CBECI data also shows Kazakhstan (18%) and Russia (11%) as the next major Bitcoin mining centres outside the United States.
Categorically, these three nations have gained significant market share in the wake of China’s crypto mining ban.
Recall back in June, it was reported that BTC.com, one of the largest Chinese Bitcoin miners, was relocating to Kazakhstan.
However, there’s a particular interest in 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.
Typically, the United States accounts for the greatest share of global hash rate distribution likely completes the expected East-West miner migration following Beijings’s clampdown.
Apart from the China crackdown, North American crypto mining establishments have been upscaling their capacity with significant additions to their hardware capacity.
American miners like Argro Blockchain, Riot Blockchain, Marathon, and several orders have purchased large orders of mining rigs from major manufacturers like Bitman and MicroBT.
In October, it was reported that Riot Blockchain has tripled its production capacity in 2021 with 2,457 BTC mined during the period.
There’s an increase in the production capacities of U.S crypto miners at large.
It has been said previously that BIT mining recently linked a joint venture agreement with Viking Data Centres to build an 85 megawatts Bitcoin mining facility in Ohio.
The expansion of the U.S Bitcoin mining space has also seen more companies pursuing a public listing on American stock exchange markets.