US Crypto Mining Stats Post China Ban

The US is definitely stepping up its game in blockchain. It’s not lagging behind anywhere. In crypto mining, it’s dominating with over a third of the global share now.

But where do you get these stats? I know a couple of unused data centers that are just starting to mine in NY. Despite restrictions, they’re 100% renewable and small, so no one really notices them, but they’re there.

What’s up with the US holding only 5.3% back then? With China’s ban, can the US keep growing its share when crypto starts booming again?

I think those numbers need a refresh. It’s all about less economic friction. Wherever there’s cheap power and decent laws, that’s where mining flourishes. I’m seeing claims that the US has around 37% now, which doesn't really match your statement.

That can’t be right. Germany still has the highest energy rates in Europe, and you're saying they hold only 5% of the global hashrate? Sounds off to me. Russia must have at least that or more.

Unless we’re tracking VPNs perfectly, those numbers are just guesses, honestly. I’ve seen many charts that didn’t impress me, gotta say.

When you talk about the US, we have solid data from companies like Riot and Marathon. Recently, by the end of 2021, they had about 30 Exa hash, aiming for 75 by the end of this year. So that might get the US share to around 30%.

Yeah, but think of all the folks running a couple of miners here and there. Countless people with a few hundred TH/s chipping in. They might barely break even but they keep stacking BTC.

If you'd say the US has around x to y % of total hashrate, I’d say that’s a much more realistic take. Coming in with wild claims like 5.3% just doesn’t cut it. I’d estimate the US is more like 25-45% right now.

Most US mining is centered around just a few states like WA, TX, NY. But that’s changing. New farms are popping up Midwest and Southeast where power is cheap. I moved to NC for better rates myself.

Ever since China banned Bitcoin mining, the US scene is booming. Some miners are even relocating to not miss out. It’s getting competitive, which means miners have to fight harder for lower revenue, while other countries are capitalizing on this opportunity.