US becomes largest bitcoin mining centre as China ban bites

US becomes largest bitcoin mining centre as China ban bites

Photo by Andre Francois on Unsplash

The United States has overtaken China to account for the largest share of the world’s bitcoin mining, data published on Wednesday by Britain’s Cambridge Centre for Alternative Finance showed.

The figures demonstrate the impact of a crackdown on bitcoin trading and mining launched by China’s State Council, or cabinet, in late May, targeting financial risks, devastating the industry and causing miners to shut up shop or move overseas.

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