US becomes BTC mining leader of the world

Team Luno
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1 minute read

  • China’s reign as Bitcoin mining hub of the world has come to an end, as recent data from Cambridge University suggests the United States is the new epicentre of crypto mining.
  • According to data captured by Cambridge Centre for Alternative Finance, the US has been responsible for 35.4% of the hashrate since July. That’s a 428% increase from September 2020, back when China captured about 67% of the market.
  • The shift follows China’s total crackdown on crypto mining in June, which took half of the world’s bitcoin miners offline.
  • The United States is well suited for bitcoin mining too, with states like Texas boasting some of the lowest energy prices in the world.
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Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @LunoGlobal.

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