Bitcoin mining in the US strengthened after massive ASIC purchase

The Bitcoin mining diaspora from China to the United States continues to grow. On this occasion, a new mass purchase was announced, agreed between a US mining company and the manufacturer Bitmain. The negotiated ASICs belong to the S19s series.

The company in question is Core Scientific, which joins other major Western firms in the „mammoth purchase“ of mining equipment. In this way, the migration of Bitcoin mining from China to North America continues to develop.

The purchase consists of some 17,595 machines, some of which are already operational. The rest are in process and will be installed until next September.

The United States consolidates its position as one of the main players in the Bitcoin mining business

According to data from Cambridge University’s Centre for Alternative Finance, China ranks first in Bitcoin mining. Next is the United States. Despite the fact that the difference between one and the other seems abysmal, since last year a process of decentralization of the activity has begun.

While China accumulates 65% of the total hash power of Bitcoin mining, it has decreased significantly. On the other hand, in the United States, which is in second place after the Asian country, the growth of mining activity has increased by more than 70%.

Other countries, such as Russia and Kazakhstan, have shown significant levels of growth in this business. As for Latin America, Venezuela stands out as one of the most outstanding players, occupying a place in the top ten in hash power.

It should be noted that this recent shipment of Bitmain is the largest to the United States since the beginning of the pandemic. The agreement, according to Forbes, was sealed earlier this year, but was delayed by measures related to COVID-19.

Magnitude of Core Scientific

Core Scientific is one of the most important companies in the field of Bitcoin mining in the United States. The company owns about five giant farms spread over the territory of the American country. Of these, four are divided between North Carolina and Georgia and one in Kentucky.

According to the website, the company provides solutions in the field of Artificial Intelligence (AI) and Blockchain technology. Among the areas they cover is Bitcoin Up mining.

Likewise, the combined hash power of the five farms totals 381MW. At the same time, Russel Cann, CCSO of the company said that this capacity will be expanded to 450MW in a short time.

„As part of our market monitoring efforts, we are actively tracking this increased interest in hash growth through Bitcoin mining in North America. In fact, the growth of our team is based on that,“ Cann said.

Another factor to consider is that the energy used to keep the machines going comes mainly from coal and natural gas.