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

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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