The Crypto Mining Landscape is Quickly Changing

Since China’s aggressive crackdown on cryptocurrency use and mining, hosting and mining companies have been searching the globe for proven and regulatorily reliable safe-havens to operate their businesses.

Even Chinese cryptocurrency miners, those booted from the mainland, went on the search for a new place to set up shop. Many of them moved to nearby Kazakhstan due to relatively cheap electricity and seemingly friendly regulations.

However, the geopolitical risk of long-term operations in the former Soviet State may outweigh the short-term energy cost benefits.

It’s why so many miners, including the Chinese, are now moving operations to this side of the globe.

Now, after the exodus from China, billions of dollars of investment capital were injected into the US. Both Federal and State governments have supported the industry and its job creation, and now America has become the world leader in Bitcoin mining.

With about one third of the total global hashrate, the US is on track to completely dominate the industry, and by 2025, could increase market share to 50% or more.

Currently, a number of US-based miners are looking to ramp-up activities to help the US further increase its share of the global hashrate.

They include Riot Blockchain (RIOT), Hive Blockchain (HIVE), Marathon Digital (MARA), Sphere 3D (ANY) and ISW Holdings (ISWH), among others.

But the United States is not the only crypto mining friendly nation in the hemisphere.

Latin American nations have been attempting to attract miners as well. El Salvador, the first country in the world to recognize Bitcoin as legal tender, plans to build a city completely dedicated to Bitcoin, crypto mining, and a decentralized lifestyle.

Power generation in the nation is relatively cheap, as volcanic activity allows for clean, efficient geothermal-based electricity to be used for mining, hosting and every day power needs.

Costa Rica, a very stable Central American nation, is slowly but surely getting on board, as well.

In fact, thanks to cryptocurrency mining, a Costa Rican hydroelectric plant that was closed during the pandemic has now reopened.

However, even as some miners look to Latin America as a base of operations, the US is, and will likely always be, the top destination for Bitcoin miners.

Our infrastructure, electricity reliability, regulations and friendly environment are unmatched anywhere.

Read more about cryptocurrency mining destinations, HERE