The US now controls 37.84 percent of the global Bitcoin mining hashrate, according to new data from the Cambridge Centre for Alternative Finance.
After China’s share of global hashrate dropped to nearly zero due to the Communist Party of China’s crackdown on the energy-intensive industry, the United States took over first place for the first time in October. FoundryUSA went on to become the world’s largest mining pool.
Georgia is by far the largest mining hub in the United States, accounting for over 30% of the country’s hashrate. The next two states (10.93 percent) are Texas (11.22 percent) and Kentucky (11.22 percent). Furthermore, despite the fact that many progressive Democrats are hostile to Bitcoin, mining activity is concentrated in two deep blue states: New York and California (9.77 percent and 7.9 percent, respectively).
Surprisingly, according to the CCAF’s latest study, China has reemerged as one of the top global players, with a 22.29 percent share of the global market. Local miners have circumvented stringent limits imposed by local authorities, indicating that underground mining is taking place. According to the CCAF, Chinese miners use international proxy services to hide their identities.
Meanwhile, Kazakhstan, which has emerged as one of the most popular Bitcoin mining sites, has seen a significant dip in its hashrate share, which has dropped to 13.22%. Canada ranks fourth, accounting for 6.48 percent of the global Bitcoin hashrate.
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