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U.S. Becomes the Largest Crypto Mining Hub After Miner’s Exodus from China By DailyCoin

by Mike Robinson

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U.S. Becomes the Largest Crypto Mining Hub After Miner’s Exodus from China

On Friday, the price of Bitcoin rose above USD 60,000. This is because traders and investors expect that U.S. regulators would clear Bitcoin’s first exchange-traded fund. CNBC reports that the ProShares Bitcoin Strategy ETF will be debuting at the New York Stock Exchange Tuesday. Experts believe there is little chance of the SEC objecting to this product. “The ETF news is being priced in with the market expecting an approval on Monday. This is driving the price up,” Vijay Ayyar, Head of Asia Pacific at cryptocurrency exchange Luno, told CNBC. Numerous companies and organizations are now more open for blockchain technology and cryptocurrency thanks to the recent crypto boom. ISW Holdings Inc., (OTC: ISWH), Riot Blockchain, Inc., (NASDAQ NASDAQ:), Sphere 3D Corp., (NASDAQ : ANY), SOS Limited, (NYSE: SOS), HIVE Blockchain Technologies, (NASDAQ 🙂 Ltd., (NASDAQ : HVBT)

The U.S. is now a major hub for the Bitcoin mining industry. This is in large part due to the Chinese government’s crackdown on cryptocurrencies. Local agencies, including the country’s securities regulator and the People’s Bank of China (PBOC), recently said in a statement that all cryptocurrency-related business activities are illegal and promised to punish illicit activities involving digital currencies. The University of Cambridge has data that the U.S. holds the most global Bitcoin mining networks.

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