U.S. Overtakes China as the Largest Bitcoin (BTC) Mining Hub

October 13, 2021 8:46 AM EDT

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The United States is now the largest Bitcoin (BTC) mining hub, the latest data from the UK's Cambridge Centre for Alternative Finance showed.

After China moved to ban mining activity, a lot of miners were forced to move overseas. As a result, the U.S. now accounts for the largest share of Bitcoin mining with 35.4% of the total hash rate as of the end of August.

China moved from 44% in May to 0% in July, while Kazakhstan and Russia sit in second and third place, respectively.

Bitcoin (BTC) price is trading around the $55,000 handle today.

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