The United States reaches leadership in the bitcoin mining market after China imposed ban on the mining of cryptocurrencies. The US now accounts for 35.4% of the hashrate of the bitcoin network.
According to the Cambridge Center for Alternative Finance (CCAF), the US overtook China in terms of bitcoin mining. According to CCAF estimates, the United States now accounts for 35.4% of bitcoin mining. The total capacity of mining enterprises in the United States is 42.7 exahashes per second (EH/s). In the third quarter of this year, only seven publicly traded bitcoin mining companies in the United States mined about 7.5% of all bitcoins issued by the network as mining rewards.
Kazakhstan stands on the second line in the ranking, followed by Russia and Canada. The market share of Kazakhstan is estimated at 18.1%, and that of Russia and Canada being at 11.2% and 9.6%, respectively. BitRiver, headquartered in Russia, announced that it signed hosting agreements with Chinese customers in the summer for over 100 megawatts.
The CCAF report was prepared based on the analysis of 44% of the Bitcoin hashrate. The CCAF data include information provided by four Bitcoin mining pools: BTC.com, Poolin, ViaBTC and Foundry USA.
CCAF notes that the methodology does not take into account possible concealment of the real location of miners, which can distort the sample and cause overestimation or underestimation of hash rates in certain countries.