As of August 2021, the United States is the second-largest Bitcoin mining destination on the planet. To date, the United States accounts for close to 17% of the world’s Bitcoin miners. The country’s rising dominance in the industry can be attributed to two main factors: miners leaving China due to recent regulations and growth in mining infrastructure. Companies like Core Scientific have been building up their hosting capabilities for years, and now, their work is beginning to pay off.
Darin Feinstein, Founder and Chairman of Core Scientific, noted, “For the last 18 months, we’ve had a serious growth of mining infrastructure in the U.S. We’ve noticed a massive uptick in mining operations looking to relocate to North America, mostly in the U.S.”