Copy link
Increase text size
Decrease text size
Link copied

Bitcoin (BTC) mining in North America is on the rise but challenging China’s dominance could take time

An expert said that the U.S. will likely account for 30 percent of the global Bitcoin hashrate in three years.

Image by 3D Animation Production Company from Pixabay

Wed, 14 Apr 2021, 12:07 pm UTC

For years now, China’s status as the world’s crypto mining leader remained unchallenged. But that could change as North American firms have started to beef up their mining capacity that could challenge the dominance of their Chinese counterparts.

China has always been the undisputed crypto mining leader of the world for the past six years or more. Data compiled by researchers at the Cambridge Centre for Alternative Finance revealed that China accounts for 65.08 percent of the global Bitcoin hashrate.

At a distant second is the United States which only accounts for 7.24 percent while Russia is at third place with its 6.90 percent share. Canada, on the other hand, is ranked seventh with a share of only 0.82 percent.

But things appear to be looking up for the North American crypto mining industry, according to Cointelegraph. A combination of cheap power, stable political climate, technological innovation, and robust capital markets have powered the recent expansion of industrial-grade mining operations across the U.S. and Canada.

Money has been pouring into the crypto mining sector lately. “A large investment in North America mining infrastructure is currently taking place,” Luxor Technologies and Hashrate Index chief financial officer Ethan Vera said.

“North American capital has been unleashed,” Vera added. “Public and private markets are pouring money into Bitcoin mining,” which is setting the stage “for large-scale North American build-out.”

The massive amount of investments into the crypto mining segment was also confirmed by CoinShares chief strategy officer Meltem Demirors. “We have seen over $200M of capital deployed into building onshore mining capacity in the United States alone,” he wrote in a blog post.

With all the money floating around, mining firms are busy building new facilities. For instance, Neptune Digital Assets and Link Global announced in March that they would develop a five-megawatt BTC mining farm in Alberta Canada. The facility will be powered by a combination of solar, natural gas, and wind as the firms acknowledged global pressure to develop sustainable mining operations.

Meanwhile, Chamber of Digital Commerce chief policy officer noted that some U.S. states have become increasingly supportive of crypto mining ventures. Kentucky just passed two bills last March that give tax breaks to crypto miners. “There’s an upwards trend in mining companies looking at the U.S. and North America,” Amy Davine Kim said.

But dethroning China as the crypto mining king would be a long process. Just gaining another ten percent share could take a year to accomplish.

“North America is on the verge of an explosion of hashrate growth, leveraging robust capital markets, sophisticated energy infrastructure, and political climate,” Vera said. “I expect North America to gain another 10% of global hashrate market share over the next year.”

Meanwhile, CEO and co-founder of Crusoe Energy Systems Chase Lochmiller, says that while the U.S. is growing progressively, all those Chinese mining firms won’t just vanish overnight. In three years, Lochmiller estimates that China will still likely own 40 to 50 percent of the world’s BTC mining capacity while North America accounts for 30 percent, Europe around 20 percent, and the rest of the world will own 10 percent.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • CarolBkankcard
  • 2022.06.04 15:59:02
Get $5,500 USD every day, for six months! See how it works. What'sApp : +393512615163

I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so much testimony about how Dark Web hackers send them the atm blank card and use it to collect money in any atm machine and become rich.
Email : [email protected]

Hangout : [email protected]

What'sApp : +393512615163

They also sent me the blank atm card. I have used it to get 90,000 dollars. withdraw the maximum of 5,000 USD daily. The Dark Web is giving out cards just to help the poor. Hack and take money directly from any atm machine vault with the use of an atm programmed card which runs in automatic mode.
  • 0
  • ·
  • 0
  • AdamsG
  • 2022.05.30 21:30:00
I was scammed by cityinvestgp, I got a message from a trader on my Instagram and told me about how high their profit after investing was, I decided to invest in the online trade but they kept asking for more money including withdrawal fee and it was until then I realized I was being scammed. I couldn't let go because I invested my savings as at that time. I had to make a research on how I could recover my funds from them and I came across the website REMOTESPYTECH (@) GMAIL COM after so many searches. I read several good reviews about the website from various scam victims they have helped and I decided to contact the website admin for help.
I was opportune to get my money back from the scam brokers through the help of the website recovery professional, they recovered my investments for me with all the profits I was entitled to within two weeks of contacting them. You can write REMOTESPYTECH (@) gmailcom for help too if you a victim of any kind of scam

They are experts at dealing with online scam and assisting victims in receiving reimbursement, tracking down digital fingerprints, cyber analysis and thorough investigation.

They offer other services such as

Phone cloning ( catching, monitoring and tracking a suspected cheating spouse )

Website hack

Boost of credit scores

Clearing of criminal records

Fixes bad debts etc

Contact them now!!!

REMOTESPYTECH (@) GMAIL, COM

WhatsApp: +44 7422 861200
  • 0
  • ·
  • 0
  • AdamsG
  • 2022.05.30 21:29:57
I was scammed by cityinvestgp, I got a message from a trader on my Instagram and told me about how high their profit after investing was, I decided to invest in the online trade but they kept asking for more money including withdrawal fee and it was until then I realized I was being scammed. I couldn't let go because I invested my savings as at that time. I had to make a research on how I could recover my funds from them and I came across the website REMOTESPYTECH (@) GMAIL COM after so many searches. I read several good reviews about the website from various scam victims they have helped and I decided to contact the website admin for help.
I was opportune to get my money back from the scam brokers through the help of the website recovery professional, they recovered my investments for me with all the profits I was entitled to within two weeks of contacting them. You can write REMOTESPYTECH (@) gmailcom for help too if you a victim of any kind of scam

They are experts at dealing with online scam and assisting victims in receiving reimbursement, tracking down digital fingerprints, cyber analysis and thorough investigation.

They offer other services such as

Phone cloning ( catching, monitoring and tracking a suspected cheating spouse )

Website hack

Boost of credit scores

Clearing of criminal records

Fixes bad debts etc

Contact them now!!!

REMOTESPYTECH (@) GMAIL, COM

WhatsApp: +44 7422 861200
  • 0
  • ·
  • 0
  • AdamsG
  • 2022.05.30 21:29:54
I was scammed by cityinvestgp, I got a message from a trader on my Instagram and told me about how high their profit after investing was, I decided to invest in the online trade but they kept asking for more money including withdrawal fee and it was until then I realized I was being scammed. I couldn't let go because I invested my savings as at that time. I had to make a research on how I could recover my funds from them and I came across the website REMOTESPYTECH (@) GMAIL COM after so many searches. I read several good reviews about the website from various scam victims they have helped and I decided to contact the website admin for help.
I was opportune to get my money back from the scam brokers through the help of the website recovery professional, they recovered my investments for me with all the profits I was entitled to within two weeks of contacting them. You can write REMOTESPYTECH (@) gmailcom for help too if you a victim of any kind of scam

They are experts at dealing with online scam and assisting victims in receiving reimbursement, tracking down digital fingerprints, cyber analysis and thorough investigation.

They offer other services such as

Phone cloning ( catching, monitoring and tracking a suspected cheating spouse )

Website hack

Boost of credit scores

Clearing of criminal records

Fixes bad debts etc

Contact them now!!!

REMOTESPYTECH (@) GMAIL, COM

WhatsApp: +44 7422 861200
  • 0
  • ·
  • 0
  • AdamsG
  • 2022.05.30 21:29:51
I was scammed by cityinvestgp, I got a message from a trader on my Instagram and told me about how high their profit after investing was, I decided to invest in the online trade but they kept asking for more money including withdrawal fee and it was until then I realized I was being scammed. I couldn't let go because I invested my savings as at that time. I had to make a research on how I could recover my funds from them and I came across the website REMOTESPYTECH (@) GMAIL COM after so many searches. I read several good reviews about the website from various scam victims they have helped and I decided to contact the website admin for help.
I was opportune to get my money back from the scam brokers through the help of the website recovery professional, they recovered my investments for me with all the profits I was entitled to within two weeks of contacting them. You can write REMOTESPYTECH (@) gmailcom for help too if you a victim of any kind of scam

They are experts at dealing with online scam and assisting victims in receiving reimbursement, tracking down digital fingerprints, cyber analysis and thorough investigation.

They offer other services such as

Phone cloning ( catching, monitoring and tracking a suspected cheating spouse )

Website hack

Boost of credit scores

Clearing of criminal records

Fixes bad debts etc

Contact them now!!!

REMOTESPYTECH (@) GMAIL, COM

WhatsApp: +44 7422 861200
  • 0
  • ·
  • 0
  • BarbaraEckman
  • 2022.05.22 02:04:31
I WAS ACTUALLY FOOLED AND SCAMMED ( $753,000 ) by someone I trusted with my funds through a transaction we did and I feel so disappointed and hurt knowing that someone can steal from you without remorse after trusting them, so I started searching for help legally to recover my stolen funds and came across a lot of Testimonials about WIZARD GARRY, an agent who helps in recovery lost funds, which I can tell has helped so many people who had contacted him regarding such issues and without a questionable doubt their funds was returned back to their wallet in a very short space of time, it took the expert 48hours to help me recover my funds and the best part of it all was that the scammers was actually located and arrested by local authorities in his region which was very relieving. Hope this helps as many people who have lost their hard earn money to scammers out of trust, you can reach him through the link below for help to recover your scammed funds and thank me later.
Email Address: [email protected]
Or WhatsApp: +15163299814... website: https://wzardgarryspeedhac.wixsite.com/my-site-1
  • 1
  • ·
  • 0
  • christalice
  • 2021.04.30 12:41:17
I have seen and tried different strategies and methods, until I lost a lot of money trying it. It was not until I presented this new strategy that I started up again and managed to recover my lost money and still achieve constant growth in my trade. Mr Oliver Donald is an incredible professional, with vast experience and a deep knowledge of agricultural negotiation, he helps me to accept the financial sanction. I have earned over $54,000 within three months of trading with him. Do not hesitate to contact him because he is a good marketer to invest with when you want to invest in cryptocurrency.

* Invest $ 300 and earn $ 3,000 per week
* Invest $ 600 and earn $ 6,000 per week
* Invest $ 1,000 and earn $ 12,000 per week
* Invest $ 2,500 and earn $ 30,000 per week

all in weekly earnings and 100% guaranteed. (Guaranteed payments) Do not hesitate to contact Mr Oliver Donald if you are interested. email:  [email protected] . com    WhatsApp +1 (720) 466-3701  
  • 0
  • ·
  • 0
  • Moses
  • 2021.04.26 04:45:59
I am a crypto currency trader and i make over 200% daily trading all day and night and also by passing even when market is down and others are resting , If you are interested, I can teach you how to trade and also help you achieve your goal in life with crypto i can turn 4 btc into $340,000.00 in less than four weeks, now that bitcoin has high prices...please note that crypto currency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins , bitcoin can also be traded for Ethereum, Litecoin, United States Dollar, Ripple, Euro, IOTA, and other stocks you need to put to trading on a daily basis with a very correct strategy and a target of profit as you get into the trading market with your capital. Also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door ???? inbox me for more info....contact me on WhatsApp +1(206)-742-5358 or [email protected]
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $21,283.00 (+0.36%)
  • Ethereum (eth) $1,226.76 (+1.73%)
  • USD Coin (usdc) $1.00 (-0.07%)
  • BNB (bnb) $237.37 (+0.74%)
  • XRP (xrp) $0.364721 (+1.26%)
  • Bitcoin (btc) $21,283.00 (+0.36%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.