Bitcoin has risen and fallen tremendously in recent years, and if you owned it a few years ago you could have made a huge fortune from it as it was only worth a few dollars or cents in the beginning.
However, now it’s in the thousands of dollars and that’s also why it’s being mined many times and trying to generate as much as possible somehow. Thus, different types of bitcoin mining are emerging in different countries and in large quantities.
However, for the normal user, this is not the most profitable as you can then pay for electricity basically what you mine. However, if you have a large amount of graphics cards and they are unused, for example, you can also start experimenting with this in some way.
But now let’s see where in the world Bitcoin and other cryptocurrencies are actually mined the most, since that’s what this article is about.
Before we get into that, we need to make clear that Bitcoin is measured in units called hash rate, where the hash rate refers to how fast each second a computation can occur on a machine. The faster the hash rate, the more money you make.
The United States – 35,4%
One of the biggest miners of Bitcoin is definitely the United States of America. This is also due to the fact that many cryptocurrencies have been created here. America is the leader in the rankings when it comes to bitcoin mining by country, which makes it legal.
The infrastructure that miners need to do their work is relatively affordable. It’s not hard to learn, and America offers potential miners the tools and support.
Kazakhstan – 18,1%
Kazakhstan, although it may not seem like much, is also one of the biggest miners in the world. This is also because they use coal for mining. Coal is cheap and its energy efficiency is driving bitcoin mining in the country.
In Kazakhstan, bitcoin miners work 12 hours for two weeks straight until they have mined one bitcoin. And it certainly won’t be criminalized, as Kazakhstan is a world leader in this sector.
Russia – 11,2%
Russia, of course, is also one of the places where Bitcoin is mined the most, mainly because it has a very large population and is basically not banned in any way.
I guess it depends on where you are, but seeing how big a percentage of the world it is, it’s definitely clear that it’s going to be very profitable for some Russians.
But the last thing we will talk about is China because it is also very much talked about when it comes to Bitcoin mining.
In China, mining has been banned and made basically illegal, so there are several laws that prohibit various activities or ownership that you need to mine. So it’s almost impossible to mine Bitcoin in China even though it has been mined quite extensively. China saw it as a threat to its entire economy.