Among the pools with the highest hash rates on the network, the Bitcoin mining pool ‘Foundry USA,’ which is obviously situated in the United States, came in first. It’s the first time in this category that a North American pool has outperformed China.
AntPool and F2Pool, both from China, have typically ranked first and second in terms of hash rate among Bitcoin mining pools.
When the Foundry USA Pool attained 17 percent of the global Bitcoin mining power, this changed.
Several Chinese mining operations have chosen the United States as one of their destinations for future operations. This was a fantastic option, given the rise of Bitcoin in the cryptocurrency market. This, as is common, entails a big inflow of cash into the market and an increase in the overall value of the items sold there.
It is important to note that the Chinese government has chosen to outlaw the use of Bitcoin and other cryptocurrency-related activities, forcing miners to seek alternative operating environments.
Only once before has China’s number one rating switched to another country. Last time, it wasn’t a pool from the United States, but rather one from the Netherlands.
That was in 2014, giving you an indication of how dominating Chinese miners have been.
In 2014, China recaptured the top rank from the Netherlands in a couple of days – but China will not make a comeback this time, as their mining hashrate continues to fall.
Trading volume from China is also rapidly dwindling, as the country becomes completely cut off from international crypto markets.