The United States has surpassed China as the world’s largest bitcoin miner, according to data released on Wednesday by the Cambridge Centre for Alternative Finance in the United Kingdom.
Chinese officials outlawed the practise earlier this year, forcing miners to close their operations or relocate overseas.
According to the data, China’s portion of the computing power connected to the global bitcoin network, known as the “hash rate,” dropped to zero in July from 44 percent in May.
According to the data, the United States now has the greatest share of mining, accounting for 35.4 percent of worldwide hash rate as of end-August, followed by Kazakhstan and Russia.
