After China Bans Crypto Mining, U.S. Takes Lead Position

After China Bans Crypto Mining, U.S. Takes Lead Position Prior to the ban, China had led the world in Bitcoin mining, aided by cheap, state-subsidized electricity. The United States has become the world's leading destination for Bitcoin mining, weeks after a crackdown in China virtually wiped out the practice overnight. Bitcoin mining outlets in the United States accounted for 35.4 percent of the global hash rate—more than twice the activity that the same survey had reported in April, and more than 300 percent higher than the rate in September 2020, according to a report authored by the Cambridge Centre for…