September 19, 2021

American miners mined 58% more BTC thanks to China

American miners mined 58% more BTC thanks to China

Despite the fact that these mining companies did not increase their hash rate during this period, their revenue has grown significantly.

Five US publicly traded companies - Marathon Digital, Riot Blockchain, Argo Blockchain, Bitfarm, and Hut8 - mined 1,802 bitcoins in July. This is 58% more than in June.

Although the hashrate of these miners did not increase, inThis June, the Bitcoin network experienced the largest drop in mining difficulty in history. This happened after the authorities of several Chinese provinces ordered the closure of all mining pools. This situation has weakened competition in the mining market and made it much easier to mine cryptocurrency.

In the table below, we see the amount of BTC mined by each of the companies, as well as the monthly growth, expressed as a percentage.

American miners mined 58% more BTC thanks to China

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According to the materials www.theblockcrypto.com