Cryptomining Independence Day 2022 stats

When it comes to embracing blockchain, the U.S. isn’t lagging behind anyone. But in crypto mining, it’s leading with over a third of the total global share. The U.S. share of hashrate has been on the rise since 2019, when it was just 5.3% of the world total. The surge in crypto mining demand here really took off after China put a stop to it in 2021. Kazakhstan is in second place, holding 19% of the global hashrate. Canada’s next with 11%, followed by Malaysia at 6% and Germany with 5%. Other countries where mining is allowed together cover less than 22% of the global market.

Where did you get these numbers? I see many smaller unused DCs converting to small mines. Just had another small one in the mid New York area start mining. Even with all the restrictions NY is putting in they are 100% renewable and small so it barely even made a blip, but they are there. In general it works out well for all in these situations. The miners get to move into pre-bulit DCs that although not ideal for mining are already there with the infrastructure in place. The owners of the facilities get revenue till they figure out what to do with them. Power is there, cooling is there, high speed data is there. Depending on how old the facility is and how much if any decommissioning work was done you have BU generators and some massive battery rooms still there and working. -Dave

What’s the current position of America’s hashrate if it represents only 5.3% of the worlds hashrate due to the china fud and looking at the future when crypto picks up back will you say America’s  hashrate can pick up the pace in terms of increament?

I think that you need to update the numbers because mining is related to more economic things and therefore whenever there is an opportunity to mine Bitcoin cheaper, it is an ideal place for Bitcoin mining with the availability of cheap electricity, cooling, laws, low taxes, and finally access to a place enough to make mining profitable. Based on this map, the percentage of mining in the United States is 37% ( will not be accurate but away from what you saying) https://chainbulletin.com/bitcoin-mining-map/

No way in hell that is accurate. Cambridge says this about Germany https://ccaf.io/cbeci/mining_map Germany has had the biggest energy prices in Europe for a decade, there is no way 5% of the global hashrate would be there, and there is no way you would have 5% in Germany and less than that in Russia for example. How is it away from what he is saying when he clearly said More than one third is more than 33% , you're saying 37% ...

Unless you can track all VPN traffic, you cannot prove those numbers, not this accurately (by far!) so imho they're pretty much worthless. I've seen charts like this in the past. Not impressed, sorry.

When we talk about the US, we do have some numbers, it's in the press releases of companies like Riot, Mara, and many more and in the cases of the publicly traded ones in their account fillings. Here is a discussion from last year, where I followed only those releases of the known actors and they had around 30Exa by the end of 2021 and with a deployment plan of 75 Exa by the end of 2022. Let's cut in the middle so that would make around 30+30, 60 Exa, 30% of the current hashrate. One clue would be the hash rate of the pool Foundry owns, this is a closed pool, it's opened only to big companies with a presence in the US, so you could safely assume that at least 22% of that hash rate is generated in the US by US companies. And of course, those are the numbers only for the big guys not the hundreds of small ones with a few petahashes of gear.

And what makes up even more would be the 1000s and 1000s of people with a few hundred or less TH/s of gear How many people are running a miner or 2 in their garage or a small DC somewhere. Mining at break even or even a small loss and they don't care they are just socking BTC away. We see the pool rate we really don't know where it's coming from. -Dave

If one would come and tell that US has probably somewhere between x and y % of the total hash rate, I'd say: "OK, finally a honest chart". When it comes with numbers like 5.3% (allegedly US in 2019) or 19% (Kazakhstan) and so on, then there's no different news than the previous one, where US was already looking good and which was also filled with inaccurate numbers. So yes, I can believe that US mining may be somewhere in 25-45% range (I've taken some margin for error in both directions). It looks like US indeed took the lion's part when China sent out its miners, although I would not be surprised that - exactly like with Germany - some numbers are there only because VPN. I don't know if those big companies indeed have their hash rate entirely (or mostly) in US. I'd expect surprises from there too.

Most of the U.S. hashrate is based in just 3 states: WA, TX, NY. However, I expect that to change. New mining farms will be built in Midwest or Southeast states with cheap power. ERCOT power in particular has become much more expensive. So now second-tier energy markets are becoming more attractive. I moved to NC after I figured out I can get residential power for 7.4¢ (industrial is 6-6.5¢). That means it costs me ~$15k to mine a BTC with ASICs or ~$7k with GPUs (more risky).

Ever since the ban of bitcoin in china, Bitcoin mining is going on fast in US and some people are also migrating so that they do not miss this mining opportunity, they remain in competition even for some bit of mining. In short, miners are stuck fighting even harder for less revenue and other countries are doing well in this and should also do because this is a very good opportunity.