Bitcoin Mining Is Spearheaded by Texas

Bitcoin mining in Texas

In the world of Bitcoin mining, the United States has taken the lead, especially after China banned it in 2021. Before the ban, China had the most mining activity, but now it’s down to 21%. In contrast, nearly 38% of the global Bitcoin mining power, known as hash rate, is now in the US.

Back in July 2021, the US had little mining activity, but in just a few months, it rose to 35%. Since then, it has increased even more, reaching the current 38%. Meanwhile, China’s share has decreased from 44% to 21%.

In the US, Texas is the standout player in Bitcoin mining. Initially, Texas had 8.5% of the national hash rate, but after the Chinese ban, it experienced a significant boom, now holding 28.5%. Other states like Georgia and New York also saw changes in their share, with Georgia dropping from 34% to 9.5%, and New York falling to 9%. Texas owes its success to abundant and affordable electricity, often generated from waste sources like flare gas.

In the current ranking, Texas dominates with 28.5%, followed closely by Georgia and New York. When it comes to the global ranking, Texas is now the third-largest state in the world for Bitcoin mining, contributing 10% to the world’s total hash rate, following China and Kazakhstan.

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Chi Do
Chi Do
Chi Do is a content writer at CoinMinutes, responsible for creating most of the content on the website, including news related to Bitcoin (BTC), Ethereum (ETH), Blockchain, Decentralized Finance (DeFi), and more. With a keen interest in cryptocurrencies since the 2020s, Chi has acquired extensive experience and knowledge in this field. Chi holds a Bachelor's degree in communication from Academy of Journalism and Communication in Vietnam.

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