Representations of the Ripple, bitcoin, ether and Litecoin virtual currencies seen on a PC motherboard on February 14, 2018. China’s crackdown on cryptocurrency mining has effectively pushed out nearly all related operations, sending its portion of the bitcoin hash rate to zero as the US becomes the top market at 35 per cent. Photo: Reuters
Representations of the Ripple, bitcoin, ether and Litecoin virtual currencies seen on a PC motherboard on February 14, 2018. China’s crackdown on cryptocurrency mining has effectively pushed out nearly all related operations, sending its portion of the bitcoin hash rate to zero as the US becomes the top market at 35 per cent. Photo: Reuters
Bitcoin

US now top bitcoin mining hub following months-long crackdown in China that has pushed out cryptocurrency operations

  • The Cambridge Bitcoin Electricity Consumption Index shows China’s crackdown on bitcoin has successfully pushed mining activities to other countries
  • The US now makes up 35 per cent of the global bitcoin hash rate, followed by Kazakhstan and Russia with 18.1 and 11.2 per cent, respectively

Topic |   Bitcoin
Representations of the Ripple, bitcoin, ether and Litecoin virtual currencies seen on a PC motherboard on February 14, 2018. China’s crackdown on cryptocurrency mining has effectively pushed out nearly all related operations, sending its portion of the bitcoin hash rate to zero as the US becomes the top market at 35 per cent. Photo: Reuters
Representations of the Ripple, bitcoin, ether and Litecoin virtual currencies seen on a PC motherboard on February 14, 2018. China’s crackdown on cryptocurrency mining has effectively pushed out nearly all related operations, sending its portion of the bitcoin hash rate to zero as the US becomes the top market at 35 per cent. Photo: Reuters
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