Mining Activities Escaped from China's Pressure Breathed in the USA

Şükriye Akdeniz

Oct 15, 2021

The 'great migration' of miners continues after a series of bans on cryptocurrency mining and transactions by China

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According to data released yesterday by the UK-based Cambridge Center for Alternative Finance, the share of the US in bitcoin mining has soared after the bans in China. According to the latest developments, the USA has become the country that produces the most Bitcoin in the world.
The Chinese government has been imposing strict bans on crypto miners since April. After these bans, bitcoin mining companies took their breath away overseas.
According to the data, the “hash rate” taken as data in China’s Bitcoin production revealed that while it was 44% in May, it dropped to zero in July.
The US state of Texas stands out in the world due to low energy prices and the positive approach of state officials towards crypto money. Russia and Kazakhstan are on the radar of those who are mining with older generation technology.

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