The United States is now the world’s top mining center after China cracked down on the industry, Reuters reported.
- The United States overtook China to account for 35.4% of the global has rated as of the end of August, according to data published by Britain’s Cambridge Centre for Alternative Finance. It was followed by Kazakhstan and Russia.
- China previously used to be the epicenter, accounting for as much as 75% in 2019. This fell to 44% in May and slipped further to zero by July, as Chinese regulators widened their crackdown on the industry.
- Mining rig maker Ebang International Holdings said it is now focusing on expanding its ming operations by putting up compliant mining farms in North America and Europe.
- Russia’s Irkutsk Governor Igor Kobzev in September warned the government of an “avalanche-like growth” in energy taxes, which he said was due to underground cryptocurrency mining.
Kobzev said the situation had been worsened by the crypto mining ban imposed in China. BTC is up 4.69%.