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US Becomes Global Bitcoin Mining Leader

Raevenlord

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The United States has now become the leading country in cryptocurrency mining operations, following China's mining ban and subsequent exodus of its mining operators to less dangerous waters. According to figures published by the Cambridge Centre for Alternative Finance, US-based miners reached a 35.4% share in overall bitcoin hashrate in July this year - up 17% compared to April, and only a month after China's move to ban all domestic cryptocurrency mining operations. In the months since, China's Bitcoin hash rate control declined from 44% in May of this year down to 0% as early as July - a far cry from its September 2019 high, which saw the country hold around 75% of the global mining hashrate.

As is usually the case, one country's loss equates to another's "gain", and the same is true for mining operations following the China ban. The US may have become the biggest player in this particular court, but any country with cheap electricity that allows for profits increases is fair game. Countries like Kazakhstan went from 8% to 18% in the same period, claiming the current second spot in overall hashrate, while Russia has now claimed third place after reaching an 11% share - rising from 6.8% three months earlier. It remains to be seen whether these mining operation relocations will see the US face the same migratory phenomenons as China did back when mining wasn't banned: operators spent the dry season on regions like Xinjiang in late autumn, winter and spring, migrating to regions with significant temporary overcapacities in low-cost hydropower, like Sichuan, between May and October during the 'wet season'. The impact of this mining relocation to the US in its power delivery infrastructure (if any) remains to be fully understood.



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It's because they moved operations from China to the states, they been moving these operations for about a year because they new this was going to happen. Frontier will be opening more Warehouses soon in a couple different states.
 
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The US has a historical feat to correct, China was gaining on them as the biggest polluter ever, can't let that happen now can we.
 
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Let's waste gigawatts of energy on some vaporware Ponzi, shall we...
 
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Hi,
Too bad it's not real mining for precious metals.
 
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You all know what I want to say, so I just won't say it, and now the mods can have a good day today. :roll:

 
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Should be:
US Becomes Global Electricity Wasting Leader
 
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I admit, I've been mining casually to get a ROI for my RTX 3080. After about a year of mining while everyone is asleep, I've pretty much paid off my graphics card :)
 
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haters gonna hate.



I do wonder if the china miners are really locating to the states, or just moving one country to the left...:rolleyes:
 
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haters gonna hate.



I do wonder if the china miners are really locating to the states, or just moving one country to the left...:rolleyes:

How could they move here that easily? I have tried for years and years to get a work visa for Canada or Europe/UK, and its damn near impossible unless you majored in something that is very in-demand.
 
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Yeah GPU price in US may never go back to normal now haha
 
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How could they move here that easily? I have tried for years and years to get a work visa for Canada or Europe/UK, and its damn near impossible unless you majored in something that is very in-demand.
I'd bet that have some money stored away somewhere to fund such a move....:rolleyes:
 
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I'd bet that have some money stored away somewhere to fund such a move....:rolleyes:

yeah but you can't just move to a country without a visa sponsorship of some kind. refugee status, ancestry claims, or work sponsorship is about the only way to do it if I want to move from USA to Europe... doesn't seem fair someone can just move to America so easily...
 

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yeah but you can't just move to a country without a visa sponsorship of some kind. refugee status, ancestry claims, or work sponsorship is about the only way to do it if I want to move from USA to Europe... doesn't seem fair someone can just move to America so easily...

I read somewhere that there was sell-off of a lot of the hardware. So, the hardware moves but the people don't have to. Also, in the quoted report, on the BBC, I read the areas where the mining moved to in Khazakstan are now experiencing power issues in the local communities. Swarm of locusts.
 
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Mulligan didn't draw any land shuffle the deck and draw again. They have the hardware shipping isn't a consideration with the ROI and they don't give a damn about the environment or power grid even locally they can afford their own self sustaining energy for themselves with the ROI of their mining operations.
 
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This is like bragging about having the "Most successful Penis Enlargements" award.

Can I return this one for in-store credit?
 
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USA actually has cheaper energy prices than China, though fewer sources of corruption (at least, by comparative measure).

Now that China is cracking down on the energy corruption (ex: random governor-level politician using local power-plants for his own BTC mining operations), that illegitimate use of electricity for mining has been cut out. There's also worries that China would crack down on BTC itself, moreso than the US Government anyway.

The price of electricity is king for mining, and the political winds are blowing more favorably in the USA.
 
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How could they move here that easily?
They are moving machines not people. The USA has plenty of unemployed right now willing and qualified to work menial mining monitoring tasks.

The price of electricity is king for mining, and the political winds are blowing more favorably in the USA.
Some of the cheapest electric is also in the hydro rich Pacific Northwest, AKA my homefront. This also helps aleviate environmental concerns, since the whole of Washington does not have even one coal plant anymore (Centralia closed).
 
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They are moving machines not people. The USA has plenty of unemployed right now willing and qualified to work menial mining monitoring tasks.


Some of the cheapest electric is also in the hydro rich Pacific Northwest, AKA my homefront. This also helps aleviate environmental concerns, since the whole of Washington does not have even one coal plant anymore (Centralia closed).

Isn't there a risk even those green sources of electricity will get overloaded from the miners? AKA China cracked down on it cause of power outages, same as many countries in the world. I can tell you right now, I live in a major factory area, the factories, the politicians, and the police, thats where all the money is, if some miners come here and bring down their electric grid even once, heads would be flyin, I live in a good ol boy area ;)
 
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Some of the cheapest electric is also in the hydro rich Pacific Northwest, AKA my homefront. This also helps aleviate environmental concerns, since the whole of Washington does not have even one coal plant anymore (Centralia closed).

Not really. The US-grid is well connected (with one... Texas-sized exception). Meaning that the green-energy used in Washington could very well power Oregon or Idaho (cutting out non-green sources there). There's transmission line loss, but you'd be surprised at how efficient modern high-voltage lines are if they're done correctly.

A "better" use of the electricity would be to sell the power to other states, rather than to waste it on BTC IMO. But you know, free market and all that... this thing is going to happen unless regulators decide to clamp down on it.
 

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As usual America shows the way, to fuck it all up :laugh:
 
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Not really. The US-grid is well connected (with one... Texas-sized exception). Meaning that the green-energy used in Washington could very well power Oregon or Idaho (cutting out non-green sources there). There's transmission line loss, but you'd be surprised at how efficient modern high-voltage lines are if they're done correctly.

A "better" use of the electricity would be to sell the power to other states, rather than to waste it on BTC IMO. But you know, free market and all that... this thing is going to happen unless regulators decide to clamp down on it.

I agree with this line of thought as well.

As usual America shows the way, to fuck it all up :laugh:

just let me know when we are going to go half in half on that boat ride to see the cliffs of dover mate. let the world go crazy. i require one last adventure, as Bilbo Baggins would say
 
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Isn't there a risk even those green sources of electricity will get overloaded from the miners?
It may raise prices and reduce our ability to export power but I really doubt the Northwest personally will run out.

Not really. The US-grid is well connected (with one... Texas-sized exception). Meaning that the green-energy used in Washington could very well power Oregon or Idaho (cutting out non-green sources there). There's transmission line loss, but you'd be surprised at how efficient modern high-voltage lines are if they're done correctly.

A "better" use of the electricity would be to sell the power to other states, rather than to waste it on BTC IMO. But you know, free market and all that... this thing is going to happen unless regulators decide to clamp down on it.
I'm not denying that. But the power bill is undeniably cheaper in our neck of the woods due to an excess of what I said.

That could change of course.
 
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It may raise prices and reduce our ability to export power but I really doubt the Northwest personally will run out.


I'm not denying that. But the power bill is undeniably cheaper in our neck of the woods due to an excess of what I said.

I hope you are correct, but there would be an easy way to find out, figure out how much kilowatt hours are being used by the current green sources in that region, and see how much spare they have. didn't california and oregon have outages all the time during summer months cause air conditioners couldn't keep up, I'm surprised the grid didn't expand down south from wash state.

but im running off topic now. best i go before i get in trouble again LOL
 
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