The United States, the first world power, leads the Bitcoin hash rate

The United States, the first power in the world, now leads the Bitcoin hash rate, with more than 42 EH/s of the network hash rate in its territory.

After China’s crackdown on Bitcoin miners and cryptocurrencies, the United States is now leading the hash rate of the global Bitcoin network. According to data From the Center for Alternative Finance at the University of Cambridge, for the month of August the United States registered a total of 42.6 exahashes per second (EH/s) of the Bitcoin hash rate in its territory, which represents 35, 2% of the total power of the network globally.

Distribution of the Bitcoin hash rate in the world.
Source: CBECI

Currently, the first world power has overtaken China as the global leader in Bitcoin mining and now controls more than a third of the computing power of this cryptocurrency, the most important and well-known in the whole world. By the beginning of the year, China controlled more than 70% of the Bitcoin hash rate, while the United States only controlled 15%.

However, after the strong measures that the Chinese government imposed against Bitcoin and cryptocurrencies, to the point of banning them entirely, many of the Bitcoin mining companies began to migrate to other regions, with the United States being one of the new destinations. preferred by miners in recent months. BIT Mining and Poolin, two of the most important Bitcoin miners located in China, announced during the third quarter that they had already begun to move their facilities to the United States.

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Bitcoin mining in the United States

In addition to migrating from China to the United States, many of the Bitcoin mining companies located in the North American country have also begun to considerably expand their operations, building new mining farms and integrating thousands of new hardware equipment for the development of this activity in the United States. country.

This year, Argo Blockchain, Cipher Mining Technologies, and Good Works Acquisition began building new bitcoin mining facilities in the United States, while other crypto mining companies such as Marathon Patent Group, Digital Currency Group (DCG), and Bitfarms placed large purchase orders. to acquire several thousand new mining equipment, in order to extend its operational capacity on the Bitcoin network.

Recently, Cipher Mining reported to the SEC that it will invest up to 350 million dollars for the acquisition of some 56,000 new state-of-the-art bitcoin mining equipment, which will be purchased from the manufacturer Bitfury. Also, Marathon Patent Group, one of the largest Bitcoin miners in the country, closed a purchase of 70,000 hardware units to expand its mining capacity on the BTC network. Digital Currency Group (DCG) invested $100 million to acquire new mining equipment and Bitfarms also made a significant investment to continue expanding its mining capacity within this network.

Bitcoin hash rate distribution

The mining map of the University of Cambridge also shows that Kazakhstan is the second country with the highest dominance over the Bitcoin hash rate, with 21.9% of the mining of this cryptocurrency located in its territory. The Russian Federation and Canada are the next countries with the highest share of BTC miners on their territory, with 13.6% and 11.5% of the network’s hash power, respectively.

In its graphs, the CBECI clarifies that the possible redirection of IP addresses through the use of VPN can alter the data shown in its mining map, so there may be a certain margin of error in it.

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