After China’s widespread raids on Bitcoin mining activities, the United States has now emerged as the leading nation in terms of hash rate.
According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), Bitcoin (BTC) miners in America account for 35.4% of the total global BTC mining hash rate distribution.
CBECI data also shows Kazakhstan (18%) and Russia (11%) to be the closest major bitcoin mining centers outside of the United States. These three nations have gained significant market share in the wake of the Chinese crypto mining ban.
Back in June, Cointelegraph reported that BTC.com, one of the largest Chinese bitcoin miners, was moving to Kazakhstan.
Perhaps of particular interest is the fact that the CBECI data shows a hash rate of 0% from China. However, it is possible that covert mining operations may continue to take place despite the ban.
The United States, which accounts for the largest share of the global distribution of hash rates, is likely to complete the expected east-west migration of miners following Beijing’s policy.
Aside from the crackdown on China, North American crypto mining companies have increased their capacity with significant expansions to their hardware capacity.
American miners like Argo Blockchain, Riot Blockchain, Marathon and several orders have bought bulk orders of mining rigs from big manufacturers like Bitmain and MicroBT.
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In early October, Cointelegraph reported that Riot Blockchain tripled its production capacity in 2021 with 2,457 BTC mined during the period.
Places like Texas and Ohio are also expected to be home to mega bitcoin mining centers that will further add to the manufacturing capabilities of U.S. crypto miners.
As previously reported by Cointelegraph, BIT Mining recently signed a joint venture agreement with Viking Data Centers to build an 85 megawatt bitcoin mining facility in Ohio.
The expansion of the US bitcoin mining sector has also resulted in more companies seeking public listing on the US stock exchanges.