US overtakes China as world’s largest Bitcoin mining hub

The United States has supplanted China as the world’s largest center for Bitcoin mining after Beijing announced that the practice would be forbidden.
The U.S. now accounts for more than 35% of the global share of Bitcoin mining, a figure far higher than just a year ago, when it accounted for just 4.2%, according to research published on Wednesday by Britain’s Cambridge Centre for Alternative Finance. Kazakhstan is now the world’s second-largest source of Bitcoin mining, followed by Russia.
Bitcoin mined in China had previously dominated the global supply. The country accounted for nearly 67% of Bitcoin mining worldwide a year ago. Its dominance was whittled down through a series of regulatory crackdowns by Beijing, which culminated in China banning the practice this year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Send this to a friend