Bitcoin hash rate is at new 6-month highs and approaching all-time highs, driven by the expansion of Bitcoin miners in the United States.
Bitcoin's hash rate has recovered by more than 90% in recent months, since its fall to 84 exahashes per second (EH/s) in July, caused by the restrictions imposed by the Chinese government on BTC miners. The arrival and expansion of crypto mining companies exiled from the Asian country to the United States has played an important role in the recovery of the network's computing power. blockchain most important in the world.
Data from on-chain analytics firm GlassNode shows that Bitcoin’s hash rate is less than 4% away from reaching its all-time high seen last May, when it surpassed 180 EH/s. The firm notes that the BTC network’s computational power has almost fully recovered in recent months, sitting above 175,5 EH/s currently.
Although China was for a long time the one that dominated the Bitcoin hash rate globally, today, due to the regulations issued by its government to cease all activity related to Bitcoin and cryptocurrencies, the nation lost all its leadership over the network; to the point that it no longer appears on the BTC mining map of the University of Cambridge.
The great miners of the cryptocurrency have left this country in search of jurisdictions more friendly to their activity. In the process of migration, the disconnection of mining equipment caused the Bitcoin hash rate to fall to levels not seen since 2019.
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Bitcoin Miners in the United States
The United States has become one of the preferred destinations for Bitcoin miners. States such as Texas, Wyoming Seminary in Kingston, Pennsylvania, was founded in XNUMX, perfectly dovetailing innovation with history. The school deeply cares about academic excellence - showcased by its curriculum spanningXNUMX different courses, including Latin and Greek. Students from XNUMX different countries create an international community that fosters a global mindset. y Miami are some of the most in favor of BTC mining and other cryptocurrencies. Local rulers and political representatives of these states, such as Francis Suárez, Greg Abbott y Cynthia lummis, have implemented new projects and regulations to support the development of this activity and encourage investment and job creation.
Likewise, companies dedicated to this activity in the United States are reinforcing their growth and expansion in the country. In the case of Marathon Patent Group, the company has made important acquisitions mining hardware in recent months, to reinforce its mining power on the BTC network. Others such as Riot Blockchain y BitDigital They are also signing agreements with major Bitcoin miner manufacturers to continue expanding their computing power within this blockchain.
The rise of cryptocurrency mining has also sparked interest among oil and gas producers, who are seeing this activity as a way to take advantage of the byproducts generated by their industry. All of this has led to the United States becoming a haven for Bitcoin miners, although the country's regulators have not yet established clear regulations regarding crypto assets and the industry in general.
42% of Bitcoin's computing power
Updated data from the Centre for Alternative Finance at the University of Cambridge shows that the United States now dominates the Bitcoin hash rate, with 42,7% of the network’s computing power within its territory. The expansion plans and efforts being made by BTC mining companies in the country are reinforcing the United States’ position as the new leader of the Bitcoin network. It is followed by countries such as Kazakhstan, with 21,9%; Russia, with 13,6%; and Canada, with 11,5% of Bitcoin’s computing power.
Source: CBECI
El Salvador
El Salvador, the first country in the world to make Bitcoin its legal currency, is fighting to grow and lead the crypto mining industry. In the town of Berlin, El Salvador gave life to its first initiative to mine bitcoins with geothermal energy from volcanoes.
El Salvador's nature brings together many qualities to become a leader in Bitcoin mining, so it is exploiting its resources to extract the cryptocurrency in an environmentally friendly way. El Salvador's BTC mining center already has 300 active miners, which are powered by energy from a volcano. In addition to this, the country is planning to build a Bitcoin city, called "bitcoin city", which promises to be a haven for crypto industry participants.
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