logo

BTC Mining grows in the United States

BTC Mining

TL;DR Breakdown

• The United States becomes number one in BTC Mining, replacing China.
• The national authority seeks to create a law to make crypto-mining cleaner.

After repressions against cryptocurrencies, China significantly dropped in BTC mining rates, giving space to new players. After the largest crypto-mining companies in China left for the United States, this turned the country into a crypto powerhouse. In this way, China would cease to be the first for Bitcoin mining, leaving the position to the U.S.

According to the Wall Street Journal magazine, the United States has become the main focus of crypto mining, surpassing its competitors in Asia and India.

United States: A country that will benefit from BTC Mining

BTC Mining

Long before China went after BTC Mining companies, the country had been the BTC mining center with over 50 percent of its supply. Back then, the United States had only mined less than 10 percent of the token, making its relevance in the crypto market low.

However, after China banned crypto trading and crypto-mining work, many companies migrated to North America or other parts of Asia. According to analysts, the United States has been the country with the highest reception to crypto mining, extracting over 30 percent of the circulating supply of Bitcoin.

Many crypto-mining companies opened their operations in the United States due to their clear policies regarding cryptocurrencies, and the country is renewed with the new technology. At first, the U.S. government was not convinced about the BTC Mining work, but they have changed their position over the months.

The United States and crypto mining

North America seems to renew its policies for cryptocurrencies and has made room for BTC Mining. The only thing that the country representatives discuss is the greenhouse emission gases that have brought problems to Bitcoin mining since the companies were in China.

The government is reportedly working to create a law prohibiting crypto-mining work with toxic gases that harm the environment. The companies that carry out this work must create a technology that allows them to extract their Bitcoin without consuming much energy. Some prospects exist, such as extracting cryptos with hard drives and not with processors, but they are not developed yet.

BTC Mining has been a trend in the country and the Bitcoin futures ETF investment that the stock and securities commission recently approved. This could establish a clearer picture of what the U.S. government is looking for with cryptos, their full adoption.

Meanwhile, all the positive actions that the country takes cause Bitcoin and other tokens to reach new all-time highs in their value. For example, with normalized Bitcoin mining, the supply of the token amounts to over 18,000,000 BTC, and its price exceeds $62,800 per token.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

Related News

Hot Stories

How to Stake GRT: Basic Tips from Experts
Bitcoin, Ethereum, Monero, and Algorand Daily Price Analyses – 10 August Roundup
Cardano price analysis: ADA tests $0.51 support with potential to rise up to $0.67
Dogecoin price analysis: DOGE swiftly retraces to $0.067, on its way higher? 
Ethereum price analysis: ETH retests $1,680, swiftly spikes above $1,800

Follow Us

Industry News

Coinbase records $1 billion loss in Q2
Curve Finance hacked and $570K stolen
What happens to $ETH after the merge on 19 September?
Cleanspark acquires BTC mining facility with 86 MW capacity
BitMEX executive pleads guilty in court