Following China's sweeping crackdown on Bitcoin mining, the United States has now surpassed China as the leading nation in terms of hash rate.
Bitcoin (BTC) miners in America account for 35.4 percent of the total global BTC mining hash rate distribution, according to the Cambridge Bitcoin Electricity Consumption Index (CBECI).
Kazakhstan (18%) and Russia (11%) are the next two major Bitcoin mining centers outside of the United States, according to CBECI data. Following China's crypto mining ban, these three countries have gained significant market share.
BTC.com, one of the largest Chinese Bitcoin miners, was reported to be relocating to Kazakhstan in June.
The fact that China has a 0% hash rate, according to CBECI data, is perhaps of particular interest. Despite the ban, it's possible that covert mining operations are still going on.
Following Beijing's clampdown, the United States, which accounts for the largest share of global hash rate distribution, is likely to complete the expected East-West miner migration.
Apart from the Chinese crackdown, crypto mining operations in North America have been expanding their capacity by significantly increasing their hardware capacity.
Large orders of mining rigs from major manufacturers like Bitmain and MicroBT have been placed by American miners such as Argo Blockchain, Riot Blockchain, Marathon, and others.
Riot Blockchain had tripled its production capacity in 2021, with 2,457 BTC mined during that time, according to a report published in October.
Mega Bitcoin mining centers are expected to spring up in places like Texas and Ohio, boosting the production capacity of US crypto miners even more.
BIT Mining recently inked a joint venture agreement with Viking Data Centers to build an 85 megawatt Bitcoin mining facility in Ohio, as previously reported.
With the growth of the Bitcoin mining industry in the United States, more companies are pursuing a public listing on American stock exchanges.