The World Leader in Bitcoin Mining Is….

The United States has become the world’s largest miner of Bitcoin. Last year, after China faltered, American-based crypto miners claimed market dominance, and this year could expand operations and market share even further.

The global hash rate of Bitcoin had been dominated by China until recently, when regulators banned mining and transactions of all crypto currencies. The regulatory move almost immediately launched the US into the top position, at 35% global market share, with its next nearest competitor, Kazakhstan, claiming only 18.1%.

Mao Shixing, founder of F2Pool, formerly the world’s largest miner said, “as a veteran who witnessed the industry’s birth in China, I feel the situation today is lamentable… the industry’s center of gravity is shifting to the United States.”

American-based miners have enjoyed a 428% increase in market dominance over September 2020, and many crypto mining companies are rejoicing at the US regulations and energy efficiencies available to them.

Alonzo Pierce, Chairman of publicly traded BlockQuarry (ISWH), a US based crypto miner says, “given the US dominance in the space, mining friendly regulations and competitive energy costs, we are incredibly excited about not only the future of our company, but the industry as a whole.” 

Top US crypto miners like Marathon Digital Holdings (MARA) and Riot Blockchain (RIOT) have seen their market capitalizations rise ten-fold since the end of 2020, as US-based hash rates began to increase.

But the fastest growth within the crypto mining industry may come from companies with sub-$1 billion valuations. As the share of US-based crypto mining continues to grow, many of these smaller players are already in position for quick expansion…

And should the value of Bitcoin rebound, as many experts expect, stocks in select crypto mining companies could potentially return significant gains.

Tyler Winklevoss, founder of the $7 Billion Gemini Crypto Exchange said, “Our thesis is that bitcoin is gold 2.0, that it will disrupt gold, and if it does that, it has to have a market cap of 9 trillion, so we think it could price one day at $500,000 of Bitcoin.”

Should Bitcoin reach $500,000, it would represent an over 10X increase in value.

For investors in select crypto miners, many of which have less exposure to day-to-day coin volatility, the future is looking quite bright.

Read more about the US dominance in Bitcoin mining, HERE

Or learn more about a rapidly growing, sub-$1 billion US crypto miner, HERE