U.S. overtakes China to become world's largest bitcoin mining hub, report finds

Foto: Alain Pitton/NurPhoto/Sipa USA)(Sipa via AP Images

The U.S. lead follows China's crackdown on bitcoin mining in recent months, which sent the worldwide price of bitcoin plummeting. China issued a nationwide blanket ban on crypto mining last month, in a move that has devastated the industry there and pushed many miners overseas.

"The latest data informing our interactive mining map follows the trajectory that we had seen developing over the last two data updates. Clearly, the government-mandated crackdown in China has had a significant impact on the new order of global hashrate share," Michel Rauchs, digital assets lead at the Cambridge Centre for Alternative Finance, told The Washington Post by email on Thursday...

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