After China’s radical dismantling of bitcoin mining, the United States is now the number one country in terms of cannabis prices.
According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), Bitcoin (BTC) miners in the United States account for 35.4% of the total global distribution of BTC miners.
CBECI data also shows that Kazakhstan (18%) and Russia (11%) are the next major centers for Bitcoin mining outside the US. These three countries gained a significant market share after the ban on cryptocurrency mining in China.
Back in June, Cointelegraph reported that BTC.com, one of the largest Chinese bitcoin miners, had moved to Kazakhstan.
Perhaps of particular interest is the fact that CBECI data shows that the rate of cannabis from China is 0%. However, it is possible that despite the ban the mining is still clandestine.
The United States, which accounts for the largest share of the global distribution of cannabis, is likely to complete the projected East-West migration of miners after Beijing’s crackdown.
In addition to the attack in China, crypto-mining companies in North America are also working to increase capacity and significantly expand the capabilities of their equipment.
American miners such as Argo Blockchain, Riot Blockchain, Marathon and many more have purchased large mining orders from major manufacturers such as Bitmain and MicroBT.
Related: Argo Blockchain Takes $25 Million Loan From Galaxy Digital Powered By Bitcoin
Earlier in October, Cointelegraph reported that Riot Blockchain tripled its production capacity in 2021, expanding 2,457 BTC during this period.
Bitcoin mining cities are expected to appear in locations such as Texas and Ohio, increasing the production capacity of crypto miners in the United States.
As previously reported by Cointelegraph, BIT Mining recently signed a joint venture agreement with Viking data centers to build an 85-megawatt bitcoin mine in Ohio.
The expansion of the bitcoin mining space in the US has also led to more companies seeking public listings on US exchanges.