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U.S. becomes largest bitcoin mining centre following China ban

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HONG KONG, Oct 13 (Reuters) – The United States has overtaken China to account for the largest share of the world’s bitcoin mining, knowledge printed on Wednesday by the UK’s Cambridge Centre for Alternative Finance confirmed.

Chinese authorities banned the exercise earlier this yr inflicting miners to close up store or transfer abroad.

China’s share of the facility of computer systems linked to the worldwide bitcoin community, referred to as the “hash rate”, fell to zero by July from 44% in May, the information confirmed.

The United States now accounts for the largest share of mining, some 35.4% of the worldwide hash price as of end-August, adopted by Kazakhstan and Russia, the information confirmed.

Reporting by Alun John; enhancing by Jason Neely

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