U.S. Becomes Global Crypto Mining Leader After China’s Ban

After Chinese authorities banned bitcoin mining in the country earlier this year, the U.S. overtook the former leader and became the world’s main bitcoin mining source with over 1/3 of the global hash rate. The U.S. is trailed by Kazakhstan and Russia. The majority of bitcoins are mined by large companies that run their own datacenters.

From 75% to 0%

China controlled around 75% of the global bitcoin hashrate in September, 2019, according to figures published by the Cambridge Centre for Alternative Finance, reports Financial Times. As bitcoin exchange rate skyrocketed in the recent quarters, large mining datacenters were deployed in other countries, including the U.S., Kazakhstan, and Russia.  

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