Topic: The United States is increasing its bitcoin hashrate in the region. (Read 331 times)

US is not known to do things like this. In fact they are mostly pushing away hashrate, not just with taxes but also with laws that are damaging to the reputation and the earning potential of any miner who is going to mine inside US.
The Office of Foreign Assets Control has been going as far as forcing US miners to censor transactions!

The different US States should actually grant large mining farms some kind of tax reduction, if they establish their mining farms in that State, to draw more miners to relocate to the USA. We all know the Chinese government are going to create their own "GovCoin" soon and then implement regulations that will put restrictions on all other mining operations that are not supporting their "GovCoin"

These operations will then have one of two options.... Relocate to another country where Bitcoin mining is allowed and supported OR keep on mining in their country, but only mine the Chinese "GovCoin"  

Since Trump was happy to tap into those reserves for fossil fuel, I don't see why it can't also be funneled into other industries. It's actually pretty common that there's always too much gas being wasted (forgot the technical term but there's always too much when drilling for oil that you actually have to burn it). If at least that gas energy could be put into energy-hungry industries like mining, why not?

Not condoning at all the fact that you've to destroy nature but if you're already doing it...

Not sure how much true that info is but if it is then that's actually a good news since earlier China was having the most hashrate on their side contributing to the risk of 51% attack.
Now that China has shut many mining operations the hashrate has been distributed more among the others and we can indirectly say that the network has become more decentralized.

Really? I saw estimates that they're 30% of the hashrate coming from China. XinJiang's climate isn't that terrible, it still has a seasonal weather and certain parts of it are still fairly cool.

Cooling probably isn't the main priority nor do they really care. Paying extra on cooling is mostly redundant, you get fairly marginal benefits from overclocking them anyways. Ambient temperature delta is not that substantial to warrant additional cooling, if you consider the cost of installing them.

Are they exempted from the tariffs? The cost to ship the ASICs to the States would definitely be more substantial than having to sell it locally. If the profit margin makes sense, then there isn't any reason to not sell them.

Well, since people build mining farms there and not in Oregon they might know something, isn't it? 


Do you know where 1/3 of the hashrate in the world is located? In a damn desert!
Xinjiang has the worst climate possible in China is we count summer temperatures, but that doesn't matter when the power is so cheap you can afford to pay triple on cooling. Besides, industrial cooling is highly effective, when you pay 2cents per kWh you stop caring about what's outside.

It's all a matter of money, and with Texas producing one and a half more energy than the second state in the US despite not being the most populous one, places with dirt-cheap energy are easy to find, especially ones that had already seen high electricity usage like the Alcoa smelter it cuts a lot of investing which don't come cheap, especially when we go above 10MW.


Bitmain doesn't care who pays for the miners if it's from the US or EU or China.
There is no Chinese or American in this business, it's a company that is based in some country and nothing more, business is not always about politics. Bitmain is supplying Riot with 50k miners and Marathon with 100k, what matters is selling as fast as possible to the guys who can afford to pay more and grab the profit, hardcore nationalism is not good for business.

I'm just speculating based on my subjective thinking.
All you argue is perfectly reasonable. But now besides my explanation, can you have a better explanation?
Bitcoin mining in the US isn't as efficient as in China, but the Americans may have stepped in. The latecomers will have their own advantages such as having comparable equipment that consumes less power and is more efficient.

How do you know that Chinese miners aren't expanding their facilities and updating their equipment?
Did you travel to China,in order to inspect their mining facilities and hardware?
From where the US miners will buy their mining equipment?AFAIK,Chinese companies are producing most of the crypto mining hardware.
I don't really believe that mining in the US will be more effective compared with mining in China.
The electricity costs,real estate prices and labor costs are bigger in the US,compared with China.
I'm not advocating on Chinese miners.The biggest problem with Chinese miners is the government of China,which is kinda unpredictable and we don't know when the government will try to shut down all crypto miners.

This proves that Americans are more interested in Bitcoin and they have spent more money investing in equipment to mine Bitcoin. This is out of need and I think that is normal. The Chinese miners have saturated, did not expand their facilities or updated new equipment for their Bitcoin mining plants.
Miners in the US come later and they can buy more modern equipment and mine Bitcoin more efficiently.

I've mentioned the tendency and the source of any statistical bias in my previous replies.

Check the links (CBECI) referenced in my prior replies. It doesn't take the data solely based on the pools but a sampling using the connections established to the pools, which accounts for 37% of the network hashrate. You can interpret it as the composition of the miners in those three pools, extrapolating to the rest of the Chinese pools would probably still bring it to an acceptable margin of error, note that some of the other pools also directly operates several farms within China, so those could possibly have even greater composition of Chinese miners.. Data is accurate for April only.

Anyways, unless someone is intentionally trolling, I doubt anyone in the right mind would try to use a VPN/Proxy to masquerade as a Chinese Bitcoin miner or to any significant capacity. Understand that it has to be an assumption but it is just so unlikely.

Alaska and the other cold region in North America will be perfect for the mining place to mine BTC and other top cryptocurrencies. If they can set the most of the mining companies in the coldest region in the North American continent, they don't need to worry about the Chinese government shutting down all the mining facilities in their country. I think they will migrate all to those places if their given chance to operate again.

This less hashrate control by China could trigger a leap in the bitcoin revolution in various parts of the United States.
But one interesting point I encountered was the transfer of bitcoin miners to other countries by China. (I will publish an topic about that in the coming days)
But if China lags behind the competition, we can see that China has less control over the hashrate, and the United States has more control over its share of cheaper resources.

hahaha it is just the US culture that anyone who doesn't fall in line with the US government's demands or dares to advance in the world turns into a big evil. eventually everyone starts thinking they are all evil and in any negative topic whether it is spreading a pandemic or controlling bitcoin mining they start blaming that big evil entity that they were brainwashed to blame

The waste of electricity in China is one of the causes of the decline, in addition to the increasingly unstable global economic factors in China. indeed we must be able to show innovation in the development of the Bitcoin industry, so as not to expend high energy with the risk of having a big impact on the stability of the hashrate system. The high cost of electricity has an impact on changes in work ethic and natural disparities. because large electricity consumes a lot of resources.
Then with solar electricity and wind power being the most dominant alternatives which are now one of the factors in formulating the problem in overcoming Bitcoin mining. china should be able to do additional strength, otherwise the impact will be enormous.

Can you provide me a link to an article that explains why they are the main miners? While the biggest pools are located in China, it doesn't necessarily mean that the main miners are Chinese.

Dude, didn't you know? China bad!

In all seriousness though, it's just that people are forgetting that China's citizens are pretty much normal people as well lol. For some reason when people hear "China" they automatically think of the Chinese Communist Party(CCP); totally forgetting that China has an extraordinarily gigantic population of non-government (normal) people.

It's not completely wrong, but it isn't completely accurate also because it is based on assumptions and samples.

There is no single entity that is controlling Bitcoin mining, but one entity can certainly disrupt mining like we saw in recent electricity testing restrictions in China, meaning that more pools in different countries is better.


Same thing would happen to Russia if they ever have biggest hashrate, and it's always easy for some people to blame Russia for everything 

I have changed it to Chinese miners. Nobody is saying they are threats but they generate most of the hash rates, it has reduced though but they are still the main miners mining bitcoin. This does not make the blockchain weak because not only one mining pool are in China, there are still mining pools in some other countries of the world like USA. The mining hashes generated generally in the world are more than enough to secure the blockchain.

US was once the leading hashrate in bitcoin world to the point where more than 70% of the hashrate was coming from there. funny enough nobody said any FUD about "America controls bitcoin" back then, they just did it to China. now US is pulling itself back up with 7.6% hashrate but there are now a lot of countries that are taking the lead and increasing their hashrate in a competition...

I keep seeing this misformulation repeatedly. Saying that “China control 75% of hash rate” isn't accurate. Who is China? The government owns it? The people own it? A company by the name “China” owns it? These are all wrong!

Most of the mining pools are located in China. They aren't controlled by it. That being said, besides those who mine in China, there are others outside China who prove their work on a pool located in China. This means that statistically, the majority of the coinbase transactions that are broadcasted daily begin from China.

China (the country) shouldn't be seen as a threat to Bitcoin.