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U.S. Bitcoin Hashrate Hits 40% as Foundry USA Shines
The U.S. has emerged as a dominant force in the world of Bitcoin mining, with its hashrate reaching a staggering 40%. This significant milestone is largely attributed to the outstanding performance of Foundry USA, which has managed to secure a leading position within the industry.
According to the latest data, over 40% of Bitcoin’s global hashrate now originates from the United States. This remarkable surge in U.S.-based mining operations can be partly attributed to the ban imposed by China on crypto-related activities back in 2021. The resulting migration of miners out of China has led to a significant concentration of hashrate in the U.S.
Foundry USA, a prominent Bitcoin mining pool, has played a crucial role in this development. By providing robust, secure, and fast mining solutions, the company has been instrumental in solidifying its position as a pillar of the American mining landscape.
Texas, in particular, has emerged as a hotspot for Bitcoin mining activities, with over 28% of the U.S. hashrate emanating from within the state’s borders. This remarkable growth is largely driven by the state’s favorable regulatory environment and abundant renewable energy resources.
Notably, despite a slight drop in hashprice, December saw a significant increase in miner revenue, exceeding $1.33 billion for the month. This development highlights the resilience of the mining sector, which continues to thrive in spite of market volatility.
In conclusion, this impressive surge in U.S.-based Bitcoin mining operations is a testament to the country’s ability to adapt and evolve in response to changing circumstances.
Source: www.crypto-news-flash.com
