Crypto-mining service provider Foundry USA takes the lead to become the world’s second-largest Bitcoin mining pool after taking up a 15.42% share of the network.
Digital Currency Group-owned Foundry USA stands behind the pool leader Ant Pool by a hash rate of just 4,000 PH/s, which contributed to a 17.76% network.
The rise in the participation of American entities can be attributed to China’s recent blanket ban on crypto trading and mining activities. The ban forced a large-scale migration of local Bitcoin miners, who now reside in crypto-friendly jurisdictions including the United States, Russia, and Kazakhstan.
Out of the top five mining pools in terms of hash rate distribution, Foundry USA charges the highest average transaction fees of 0.09418116 BTC per block. American businesses have also picked up China’s slack in terms of crypto ATM distribution.
Data shows that Georgia-based Bitcoin Depot has overtaken its Chinese counterparts to become the world’s biggest crypto ATM operator. Interestingly enough, a majority of the crypto ATM operators are run by American companies, a trend more prominent after China’s proactive ban on crypto activities.
