Foundry USA, a New York-based crypto mining service provider, has become the second largest mining pool in the crypto mining industry by its hash rate in the Bitcoin network.
After China’s pressure and ban on Bitcoin and cryptocurrency miners, miners who left China chose crypto-friendly countries such as the USA, Russia, and Kazakhstan as their new home.
After the forced migration of Bitcoin miners to crypto-friendly countries, the Bitcoin hash rate in these countries began to increase.
According to data provided by BTC.com, AntPool ranked first with 17.76% as the largest mining pool. Foundry USA followed AntPool with a rate of 15.42%.
Chinese journalist Colin Wu shared on Twitter “Foundry USA has become the second largest Bitcoin mining pool. China’s fierce pressure on Bitcoin mining is one of the main reasons for the transfer of the mining industry to the United States.” said.
After the bans of China, Bitcoin mining activities started in many cities in the USA, such as New York, Georgia and Texas. Due to the low electricity cost in the US state of Texas, more Bitcoin miners are expected to come to Texas.