This has resulted in a severe drop in the BTC hashrate of Chinese mining pools while ultimately benefitting the American mining pools. America’s Foundry USA mining pool has made its way to the top ten spots and probably the only pool with an increased hashrate over the last 24 hours.
— Documenting Bitcoin 📄 (@DocumentingBTC) June 19, 2021
Becoming the seventh most powerful mining pool is a major milestone for Foundry and comes within a very short span of time since its launch. Amid the recent crackdown, a number of Chinese miners have been shifting their operations to America.
Places like Texas and Miami in the U.S. have already started wooing Chinese players by offering low-cost energy incentives. The Bitcoin-friendly Miami Mayor Francis Suarez by tapping into the city’s clean nuclear power resources.
The Drop In the BTC Hashrate of China’s Biggest Mining Pools
Amid the crackdown on the Sichuan province on Saturday, June 19, the BTC hashrate for one of China’s biggest mining pools crashed down significantly. With this, AntPool dropped to the third position after F2Pool and ViaBTC.