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Russia fell from the top three in terms of share in bitcoin hashrate

  • May 17, 2022
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The United States retained the top spot in terms of share of the first cryptocurrency’s hash rate, with 37.8%. According to Cambridge University’s Center for Alternative Finance (CCAF),

Russia fell from the top three in terms of share in bitcoin hashrate

Russia fell from the top three in terms of share in bitcoin hashrate
Russia fell from the top three in terms of share in bitcoin hashrate

The United States retained the top spot in terms of share of the first cryptocurrency’s hash rate, with 37.8%. According to Cambridge University’s Center for Alternative Finance (CCAF), China moved up to second place, removing Russia from the top three.

Data: CCAF.

In July 2021, against the background of the mining ban in China, the US took the lead in terms of share of bitcoin computing power. Kazakhstan and the Russian Federation follow the ranking.

According to the updated CCAF mining map, researchers recorded a significant hash rate backlink from China in September. As of January 2022, the country’s relative proportion reached 21.1%. In Kazakhstan it was 13.2%, in Russia – 4.7%. The second was skipped by Canada (6.5%).

At the end of 2021, experts announced an estimate of China’s share of the hash rate – about 20%. This figure nearly matched the figure set by researchers from the CCAF.

As of December, the state of Georgia was leading among the regions of the United States in terms of computing power of the Bitcoin network, accounting for 30.8% of the country’s total.

Data: CCAF.

Texas (11.2%) and Kentucky (10.9%) followed closely.

New York’s share was 9.8%. In April, the lower house of the State Legislature passed a bill imposing two-year restrictions on mining.

Recall that Riot Blockchain and Marathon Digital Holdings have implemented large infrastructure projects for the issuance of cryptocurrencies in Texas with a capacity of 1 GW and 300 MW, respectively.

In May, Argo Blockchain launched the first phase of a data center (200 MW) in Dickens County. Potentially, the business has access to 600 MW.

Source: Fork Log

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