New York & Texas Gaining Popularity Among Mining Firms Following China Crackdown

BeInCrypto –

New York state and Texas account for more than 37% of the hash rate in the USA, according to Foundry USA.

In the Texas Blockchain Summit in Austin on Oct 8, 2021, Nic Carter, co-founder of Castle Island Ventures, announced the hash rate distribution in U.S. states from a dataset compiled by Foundry USA. Foundry USA is the largest mining pool in North America. The hash rate is a measure of collective mining power. A mining pool allows miners to combine their hashing power with other miners anywhere in the world. The dataset attributes 19.9% of Foundry’s hashing power to New York state, 18.7% to Kentucky, 17.3% to Georgia, and 14.4% to Texas.

Riot Blockchain, one of the largest public mining companies in the USA has operations in Texas, and does not use Foundry USA’s resources, hence the hash rate proportion in Texas could very well be higher than the 14% cited in Foundry’s dataset, Carter added.

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