The United States has become the largest supplier of hashrate
As is often the case in cryptocurrencies, the revolution was quick. As China began its crackdown on the mining sector in the early summer of 2021, hashrate had already redistributed by August. At least that’s what the latest data from the CCAF shows, which points to this profound transformation :
The United States now accounts for 35% of the world’s hashrate, making it the largest supplier in the world. As of last June, China still accounted for 34% of global hashrate.
Our neighbours across the Atlantic now supply the highest share of hashrate, but they are not the only ones to have increased their contribution. Kazakhstan is also becoming a global hub, as far as Bitcoin mining is concerned. And Russia and Canada are not left behind :
A landscape that has transformed
As the site notes, the data collected does not, of course, take into account VPNs, so it is not entirely accurate. But they do show an underlying trend: the Bitcoin hashrate has spread again.
At the peak of its influence, Chinese mining accounted for 65% of the global hashrate. The U.S. share is smaller, so it also spreads out the areas of influence further. This is rather good news for a network that wants to be decentralized.
Will the United States become a major pole of the calibre of China? It’s hard to say. Several senior U.S. officials said last week that they have no intention of banning Bitcoin, which is good news for miners. But there is increased scrutiny from regulators, who could at some point take further action.
On the same topic – Edward Snowden: “Bitcoin (BTC) is stronger after China’s cryptocurrency ban”
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About the author : Marine Debelloir
Associate Editor on Cryptoast, I fell into the cryptocurrency pot a few years ago. I’m passionate about the innovative technologies that stem from blockchain and I love to dig up the most juicy news to share with you.
All articles by Marine Debelloir.