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The United States becomes the largest bitcoin mining center surpassing China

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This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

The United States has become the largest bitcoin mining center on China, according to a report published by the University of Cambridge . The North American country raised its ‘hashrate’ (or hash rate) from 16.8% in April to 35.4% at the end of August.

CRYPTO LEVERAGE TRADING

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What is the hashrate?

It is the combined total computational power, used to mine and process transactions on a blockchain that works with a proof-of-work system such as bitcoin or ethereum, it explains. Yahoo! Finance .

Against this backdrop, China’s hashrate has dropped to zero, according to the research. This as a consequence of the ban imposed by the government on cryptocurrencies.

“Declared mining operations in mainland China have effectively dropped to zero, from a peak of 75.53% of total Bitcoin mining in the world in September 2019 when this data was first recorded,” they explain .

The United States is followed by Kazakhstan with 18.1% hashrate and Russia with 11%. Also, behind the first three places are countries such as: Canada (9.55%), Ireland (4.68%), Malaysia (4.59%), Germany (4.48%), Iran (3.11 %) and Norway (0.58%).

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