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After China’s ban, the U.S. has become a global cryptocurrency mining leader

After the Chinese authorities banned the mining of Bitcoin in the country earlier this year, the United States replaced the former leader with a hash rate of more than one-third of the world and became the world’s main source of Bitcoin mining. The United States lags behind Kazakhstan and Russia. Most bitcoins are mined by large companies that operate their own data centers.

From 75% to 0%

According to data released by the Cambridge Alternative Finance Center, in September 2019, China controlled about 75% of the world’s Bitcoin computing power. The report stated Financial TimesAs the exchange rate of Bitcoin has soared in recent quarters, other countries have deployed large mining data centers, including the United States, Kazakhstan, and Russia.

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