Ever since Musk brought Bitcoin’s energy concerns to everyone’s attention, Bitcoin mining has been more of a subject that people are interested in talking about. I’m sure you don’t need reminding but his comments left a real bad taste in the mouth as he went from the hero of crypto to the enemy as he announced that Tesla would no longer be accepting payment of Bitcoin until things are sorted out.
Bitcoin miners in North America had been increasing their capacity amidst efforts to gain a greater share of the worldwide hash rate allocation even before the Chinese government decided to put a ban on crypto mining. From establishing larger data centres to obtaining hardware inventories, these institutions have been attempting to offset the hash-power dichotomy between Western and Eastern hemispheres.
Bitcoin miners based in North America frequently have to deal with power usage concerns as well. Some of them have been willing to partner with gas and oil firms by acting as buyers of flared gas as a last resort.
Undoubtedly, Bitcoin mining companies and oil drillers based in America continue collaborating over the utilization of natural gas, once again proving that Bitcoin’s potential thermodynamic capacity is, in fact, a net positive for the ecosystem, even despite the critiques over PoW (or proof of work) mining.
With entities based in North America apparently on the verge of setting up a greater presence in the international crypto mining matrix. Below are a few North American miners that could take advantage of this situation.
In accordance with estimates received from numerous data sources, China was still controlling about 65 per cent of the international Bitcoin hash rate in 2020. Riot Blockchain, however, was growing its operations with a swaddle of hardware acquisitions from prominent Bitcoin miner companies like Bitmain.
Canadian company Hut 8 is also a prominent name when it comes to discussing the main players in the Bitcoin mining environment.
In 2018, Hut 8 was the greatest publicly traded Bitcoin miner in terms of capacity. And recently, the Toronto-originated firm is seemingly recovering from its past setbacks.
Marathon happens to be Riot Blockchain’s main rival. The cryptocurrency mining giant has been growing its hardware supply since last year. The group also obtained 10K Antminer S-19 Pros from Bitmain in October last year.