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> The EIA found that the global share of Bitcoin mining that takes place in the U.S. grew from 3.4% in 2020 to a whopping 37.8% in 2022. What drove that? Since
by abeppu 3y ago
> The EIA found that the global share of Bitcoin mining that takes place in the U.S. grew from 3.4% in 2020 to a whopping 37.8% in 2022.
What drove that? Since this is the kind of thing that you could do pretty much anywhere, why should a such a disproportionate amount of it happen in the US?
- GartzenDeHaes 3y ago"China Banished Cryptocurrencies. Now, ‘Mining’ Is Even Dirtier." https://www.nytimes.com/2022/02/25/climate/bitcoin-china-energy-pollution.html https://www.nytimes.com/2022/02/25/climate/bitcoin-china-ene...
- abeppu 3y agoBut it does seem like US electricity prices are meaningfully higher than for a number of countries, especially in Africa and the Middle East. I wonder what stops mining from going to places where electricity appears to be cheapest. https://www.statista.com/statistics/263492/electricity-prices-in-selected-countries/ https://www.statista.com/statistics/263492/electricity-price... https://www.statista.com/statistics/1391069/cheapest-residential-electricity-by-country-world/ https://www.statista.com/statistics/1391069/cheapest-residen...
- tiborsaas 3y agoBanning crypto mining in China.
- EasyMark 3y agoChina push them out after they figured out bitcoin was a huge waste of resources and also that they couldn't control it like they could their own potential digital currencies