US Becomes Largest Bitcoin Mining Market After China's Crypto Ban

Written By Guest User

According to new data from Cambridge University, the United States has become the global leader in the Bitcoin mining industry. Read the full article by: Scott Chipolina

  • Since China started cracking down heavily on Bitcoin mining leaving miners and facilities looking for new places to set up shop.

  • Many have moved to Canada, Khazakstan, and the new leader in Market share the United States. A study from Cambridge University showed the US now holds 35.4% of the mining market share. When China originally banned mining the global hash rate by 38%.

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  • “The effect of the Chinese crackdown is an increased geographic distribution of hash rate across the world, which can be considered a positive development for network security and the decentralized principles of Bitcoin,” Rauchs added.

  • Bitcoin mining also faced reppricuosions for its environmental impact but the criticisms have led to innovations in the space that will only drive further adoption.

Guest User
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