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26 July 2021

Four North American Bitcoin miners that could benefit from the East-West shift

Four North American Bitcoin miners that could benefit from the East-West shift


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Four North American Bitcoin miners that could benefit from the East-West shift.

Even before China finally wielded the ban hammer on crypto mining, Bitcoin (BTC) miners in North America had been building up their capacity amid efforts to gain a larger share of the global hash rate distribution.

With North American-based entities seemingly on the cusp of establishing a greater presence in the global Bitcoin mining matrix, here is a look at four of the largest Bitcoin miners in the region.

In 2020, China still controlled about 65% of the global Bitcoin hash rate, according to estimates from several data sources.

The American Bitcoin mining giant is even set to expand the original capacity of the site from 750 megawatts to over 1,000 MW.

In total, Riot Blockchain says it holds over 2,200 BTC as of the end of June, with all of the Bitcoin coming from its mining operations.

Detailing the link between its recent production successes and the situation in China, the June report stated, “The exodus of Bitcoin mining from China has resulted in a downward difficulty adjustment and lower global network hash rate.

Marathon is arguably Riot Blockchain’s main competitor in the “North American hash wars” and, like its rival, the crypto mining giant has been expanding its hardware inventory since 2020.

According todata from BTC.com, achieving a hash rate capacity of 10.37 EH/s would put Marathon number five on the current Bitcoin hash rate distribution log.

The East-West shift in Bitcoin hash rate will ultimately involve sweeping changes to the energy mix for BTC mining, with more of an emphasis on “Green Bitcoin.” For the Canadian crypto miner, green energy is a major focus point for its operations.

The added hash power will reportedly be contributed to the Foundry USA Pool that already aggregates hashing potential from other major North American miners like Hut 8, Blockcap and Bitfarms, among others.

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