Bitcoin Mining After the China Ban: US Dominance Is Set to Continue

The U.S. accounted for 35.4%of the worldwide hashrate as of the end of August, more than doubling from 16.8%at the end of April. Meanwhile, mining operations in mainland China have actually successfully dropped to zero, down from a high of 75.53%of the world’s total bitcoin mining hashrate in September 2019.”I believe the U.S. will continue to be the leader, both at scale, expense and geopolitical threats,”Perrill said in an interview with CoinDesk.”If China puts this restriction in place and the activity handles to continue anyway, I think then banning cryptocurrency no longer becomes an alternative for federal governments, “he added.Regardless how China’s dynamics play out, the regulative certainties, access to cheaper power and capability to construct out infrastructure required for a smooth mining operation will likely assist keep the U.S. its leading position in the mining industry.

The U.S. accounted for 35.4%of the international hashrate as of the end of August, more than doubling from 16.8%at the end of April.”I believe the U.S. will continue to be the leader, both at scale, expense and geopolitical risks,”Perrill stated in an interview with CoinDesk.”If China puts this ban in location and the activity manages to continue anyway, I think then banning cryptocurrency no longer becomes an option for federal governments, “he added.Regardless how China’s dynamics play out, the regulatory certainties, access to cheaper power and capability to construct out facilities needed for a smooth mining operation will likely assist keep the U.S. its top position in the mining industry.

Leave a Comment

Your email address will not be published. Required fields are marked *

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Scroll to Top