US becomes BTC mining leader of the world

by Team Luno
· 1 minute read
  • China’s reign as Bitcoin mining hub of the world has come to an end, as recent data from Cambridge University suggests the United States is the new epicentre of crypto mining.
  • According to data captured by Cambridge Centre for Alternative Finance, the US has been responsible for 35.4% of the hashrate since July. That’s a 428% increase from September 2020, back when China captured about 67% of the market.
  • The shift follows China’s total crackdown on crypto mining in June, which took half of the world’s bitcoin miners offline.
  • The United States is well suited for bitcoin mining too, with states like Texas boasting some of the lowest energy prices in the world.

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