{"id":51134,"date":"2021-10-13T15:48:17","date_gmt":"2021-10-13T12:48:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51134"},"modified":"2025-09-02T22:03:18","modified_gmt":"2025-09-02T19:03:18","slug":"us-takes-the-lead-in-bitcoin-hashrate-share","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-takes-the-lead-in-bitcoin-hashrate-share\/","title":{"rendered":"US Takes the Lead in Bitcoin Hashrate Share"},"content":{"rendered":"

The United States has displaced China from the lead in Bitcoin network hashrate. Since May 2021, the US share of total hashrate rose from 17.8% to 35.4% in August, according to data<\/a> from Cambridge University’s Centre for Alternative Finance (CCAF).<\/p>\n

\\\"US
Data: CCAF.<\/figcaption><\/figure>\n

Against the backdrop of the mass exodus of miners from the PRC, triggered in May by repressions against the industry<\/a>, hashrate shares in this period rose in several other jurisdictions as well.<\/p>\n

In Kazakhstan it rose from 7.4% to 18.1%, and in Canada from 4.7% to 9.6%.<\/p>\n

These very countries, alongside the United States, experts indicated<\/a> as the main destinations for migrating Chinese mining capacity.<\/p>\n

Russia’s share, from 7.2% in May, rose to 11.2%.<\/p>\n

According to CCAF, China had already lost its dominance in Bitcoin mining by March 2021, when its hashrate first fell to less than half of the total.<\/p>\n

In June, MicroStrategy chief executive Michael Saylor, commenting on the crackdown on the industry in the PRC, called them a \u201cone-trillion-dollar mistake\u201d<\/a>. He forecast that Beijing’s measures would benefit North American miners.<\/p>\n

Analysts calculated that in Q3, eight mining companies listed in the United States accounted for 7.5% of the bitcoins rewarded for a block. Compared with the April\u2013June period, they collectively increased mining by 82%, with Marathon’s rise at 91%.<\/p>\n

In September, the People’s Bank of China, together with nine ministries, issued a statement in which cryptocurrency operations were classified as illegal financial activity.<\/p>\n

Following this, e-commerce giant Alibaba announced a ban on the sale of devices for cryptocurrency mining on its platform.<\/p>\n

The largest producer of mining equipment, Bitmain, decided to halt its sale to Chinese customers.<\/p>\n

Regulatory authorities in China began examining the possibility of prosecuting cryptocurrency trading and mining.<\/p>\n","protected":false},"excerpt":{"rendered":"

The United States has displaced China from the lead in Bitcoin network hashrate. Since May 2021, the US share of total hashrate rose from 17.8% to 35.4% in August, according to data from Cambridge University’s Centre for Alternative Finance (CCAF).<\/p>\n","protected":false},"author":1,"featured_media":51135,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[133,1137,26],"class_list":["post-51134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-cryptocurrency-mining","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51134"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51134\/revisions"}],"predecessor-version":[{"id":51136,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51134\/revisions\/51136"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51135"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}