U.S. becomes largest bitcoin mining centre as China ban bites

HONG KONG (Reuters) – The United States has overtaken China to account for the largest share of the world’s bitcoin mining, data published on Wednesday by Britain’s Cambridge Centre for Alternative Finance showed. The figures demonstrate the impact of a crackdown on bitcoin trading and mining launched by China’s State Council, or cabinet, in late May, targeting financial risks, devastating the industry and causing miners to shut up shop or move overseas. China’s share of the power of computers connected to the global bitcoin network, known as the “hash rate”, had fallen to zero by July from 44% in May,…