Who is the world leader of Bitcoin now? The USA. The new super immersion mine starts
It cannot be said that China does not take things seriously when it commits itself to a goal. In this case the aim was to completely eradicate virtual currencies from China and, at least from the point of view of mining, Beijing has succeeded in its purpose.
In just two months, China practically zeroed its hashrate, while the United States became the world leader in the sector. As shown in the image below, China's share of the global hashrate – the computing power needed to create bitcoin – dropped from 44% to zero between May and July. The country accounted for three-quarters of the global hashrate in 2019.
The US share of the global hashrate increased from 17% in April to 35% in August, while Kazakhstan increased by 10 percentage points to 18% over the same period.
Michel Rauchs, head of digital assets at Cambridge tracker, noted that "the effect of the Chinese crackdown is a greater geographic distribution of hashrates around the world", adding that it could be seen as "a positive development for security. of the network and the decentralized principles of Bitcoin ”. In fact, it was not only the USA that benefited from it, but also Canada and even, on a minimal scale, Germany, where the price of energy is certainly not affordable.
But no one benefited more than the United States: "China's closure has been exceptional for US industry and miners," said Fred Thiel, chief executive officer of Marathon Digital Holdings, a Las Vegas-based cryptocurrency mining company.
The US also has an image advantage over other players, such as Kazakhstan: the latter produces 63% of its electricity from dirty coal, while the US can boast a greater diversification of energy sources and even Bitcoin " Green ”, generated with green energy.
Meanwhile, the largest immersion mining plant in the world starts:
Riot is proud to pioneer the world's first industrial-scale, immersion-cooled, #Bitcoin mining operation. $ Riot #ImmersionCooling #BitcoinMining pic.twitter.com/3YBDQyspMD
– Riot Blockchain Inc. (@RiotBlockchain) October 19, 2021
Riot Blockchain has announced its new 200 megawatt (MW) industrial scale immersion cooled Bitcoin mining installation at its Whinstone facility in Rockdale, Texas. This investment includes two buildings that will house approximately 46,000 Antminer S19 series ASICs, all immersion cooled.
According to the company, ASIC processors 'immersion cooling in a special fluid that circulates, allowing the miners' ICs to operate at lower temperatures. if it sounds vaguely similar to how a nuclear power plant cools, it's because it's not too far away. This technique also increases the hash rate of miners, as they no longer need fans for cooling, resulting in the machines consuming less power. Indeed, the machines themselves become sources of energy (and heat), which with the world grappling with a global energy crisis is a feature that both China and Europe would be happy to have.
The company expects a 25% increase in hash rate from submerged miners, according to industry data and the company's preliminary immersion cooling test results, but they could see a potential ASIC performance boost of up to 50%.
Thanks to our Telegram channel you can stay updated on the publication of new articles of Economic Scenarios.
The article Who is the world leader of Bitcoin now? The USA. Part of the new super-immersion mine comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/chi-e-ora-il-leader-mondiale-di-bitcoin-gli-usa-parte-la-nuova-super-miniera-ad-immersione/ on Wed, 20 Oct 2021 10:09:27 +0000.