The United States has the largest Bitcoin computing power in the world

Starting from May 18, China's three major regulatory agencies jointly banned Bitcoin, explicitly prohibiting Bitcoin mining and trading. Recently, various places have closed down virtual currency mines. China's attitude towards cracking down on Bitcoin is very firm.

According to statistics, mining computing power in China accounts for 70% of the world's computing power. After the crackdown on mining, the computing power of the entire network has dropped sharply.

Therefore, the choice facing these mine owners and miners is the one we just talked about: either sell the mining machines and “cut losses”, or “go overseas” to continue mining.

Under such circumstances, it is very common for large miners to go overseas in groups and for small miners to sell their machines. Currently, large miners and mines choose to deploy overseas, mainly in the United States, Kazakhstan, Canada, and Russia.

Many countries in Central Asia and North America have also extended olive branches to Chinese miners, hoping that these "unemployed" miners in China will come to their countries to mine in order to revitalize their energy industries.

After several months of mining machine layout and migration, according to the Cambridge Center for Alternative Finance (CCAF) data, as of August this year, the United States has accounted for 35% of the total Bitcoin network computing power, replacing China as the country with the highest Bitcoin computing power. At the same time, Kazakhstan, Russia and Canada ranked second, third and fourth in the world with 18.1%, 11.2% and 9.6% of computing power respectively.