Leading U.S.-based firms were competing hard to mine more Bitcoin (CRYPTO: BTC), with many increasingly retaining the newly-created coins for long-term benefits.
What happened: American Bitcoin mining companies added nearly 16 ExaHash per second of mining capacity, or an 8% increase, from November-end up to Jan. 15, according to a JPMorgan research report released Thursday.
The total hash rate, or the computational power needed to validate transactions and mine new Bitcoins, has more than doubled to 238 EH/s year-over-year. With this, U.S. miners control over 30% of the global network hash rate, marking a 9% increase in market share since April’s halving.
The growth was led by the world’s biggest Bitcoin miner, MARA Holdings Inc. (NASDAQ:MARA), which saw a 7.1 EH/s increase in hash rate. CleanSpark Inc. (NASDAQ:CLSL) …
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