After China's Bitcoin Crackdown, the U.S. Becomes the Largest Bitcoin Mining Center

According to data released by the Cambridge Centre for Alternative Finance at the University of Cambridge on the 13th, after China banned Bitcoin mining, the United States replaced China as the world's largest Bitcoin mining country.

According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), the United States ranks first in the world in terms of Bitcoin computing power, accounting for 35.4%. The next two and three are Kazakhstan and Russia, accounting for 18.1% and 11.23% respectively.

Global Bitcoin share evolution in various countries and regions from October 2019 to January 2021. Source: CBECI

According to CBECI data, China’s Bitcoin mining power accounted for 43.98% of the world’s total in May this year, but after China banned Bitcoin mining in April, China’s share of the world’s Bitcoin mining power fell to zero in July, a decrease of 38%. In September 2019, China’s Bitcoin mining power once accounted for 75.53% of the world’s total.
According to the British Guardian on the 15th, Mao Shihang, co-founder of Singapore's crypto asset management and custody company Cobo, said: "China is losing its share of Bitcoin computing power... The center of gravity of the industry is shifting to the United States."

The US leads the world in Bitcoin mining after China banned it. Source: The Guardian

Furthermore, as of early October, the trajectory of Bitcoin’s hashrate suggests that the June slump will soon fully recover. If August’s data holds, the title of “largest Bitcoin mining country” will most likely be replaced by the United States, Kazakhstan, and Russia.
However, Russia is not particularly optimistic about the rising rate of Bitcoin mining. According to the Guardian, Igor Kobzev, governor of Russia's Irkutsk region, said that energy tariffs have grown like an avalanche and blamed underground cryptocurrency mining.