What State Has the Most Bitcoin Mining?
There are many varying opinions about Bitcoin mining. On one hand, it is a necessary evil for a currency like Bitcoin to exist. On the other hand, it is very bad for the environment and causes a lot of pollution.
That being said, this article isn’t about the pros and cons of Bitcoin mining, but rather where most Bitcoin is mined within the United States. The top 10 might even surprise you. So, if you’re ready to learn about where most Bitcoin is mined in the US, keep reading.
The Top 10 States for Crypto Mining
First and foremost, we would like to inform you that the United States currently mines about 37% of the world’s Bitcoin. Whether this number is higher or lower than you expected, know that it is very expensive to mine BTC in countries where electricity is expensive—such as the United States. Additionally, BTC mining is a decentralized process, meaning there is no central authority governing it, and anyone, anywhere, can decide to mine as long as they are willing to pay the cost.
So, if you hear of a politician saying that all Bitcoin will be mined on US soil, know that this is a blatant lie and something politicians are unable to control. Also know that it is difficult to separate Bitcoin miners from other cryptocurrency miners, as regulators can only go off of self-reporting of mining companies as well as hash-rate—meaning some individuals who are mining may slip below the radar.
Without further ado, lets dive into our list of the top 10 states for cryptocurrency mining.
1. New York
Are you surprised? Honestly, us too. Of the total amount of Bitcoin mined in the United States, 19.9% of it is mined in New York. We suspect that this is due to the large number of cryptocurrency companies operating within the state.
Before you get too upset at the pro-cryptocurrency laws in New York, you should know that 1/3 of the mining in New York is done on renewable energy, meaning it is actually not damaging the environment as much as you would think.
Related: New York Moves to Ban Bitcoin Mining
2. Kentucky
Kentucky surprised us when it appeared second on the list, where state residents make up 18.7% of crypto mining in the United States. Like New York, Kentucky has invested heavily in renewable energy sources, and much of crypto is mined on water or wind farms.
Additionally, Kentucky has many pro-cryptocurrency regulations and a low cost of housing, attracting many miners to the location.
3. Georgia
Third on our list in Georgia, which reportedly mines 17.3% of the cryptocurrency mined in the United States. Much of this is due to the deceptive Bitcoin mining company CleanSpark which recently moved within Georgia state borders.
Unfortunately, it’s not as happy of a story in Georgia as the large company has taken over small towns to set up large mining operations, air quality and pollution. Although CleanSpark says they use renewable energy to mine, that has turned out not to be the case as the large majority of their mining is done using fossil fuels. All of this is due to the low costs of energy in Georgia, something which may change in the future. Just for reference, one CleanSpark mining facility consumes the electricity of 49,000 households.
4. Texas
Now Texas is 4th on our list, mining a reported 14% of cryptocurrencies in the United States. That being said, they are likely actually number one due to the large influx of Chinese miners to the state after several pro-cryptocurrency regulations were adopted.
The reason the number is underrepresented is because Riot Blockchain, a large miner operating in Texas, and Bitdeer, a Chinese mining company, do not report their numbers to the US company tasked with following these companies and managing their numbers. While the numbers aren’t required to be reported, energy sources are, and it was discovered that Texas has a large portion of renewable energy, mostly wind, used to produce its cryptocurrency.
5. Nebraska
Fifth on our list is Nebraska, which currently produces 10.4% of the nation’s crypto. Like many other companies on this list, Nebraska is known for its low cost of living and a large amount of wind power, making it an attractive place to mine.
6. Minnesota
Minnesota is responsible for 3.2% of the nation’s mining, which isn’t surprising considering the cold climate. Although Georgia and Texas are big mining states due to positive regulations and low costs, we want to ensure individuals recognize that mining machines can grow very warm during the mining process, raising the risk of fires. This is why so many of the states that have a lot of mining activity are in cooler areas or areas that experience a longer, colder winter.
7. Alabama
Alabama currently produces 2.8% of the nation’s cryptocurrency. Though it isn’t the best place for mining, it is a fairly inexpensive state to operate out of, drawing in many mining companies and individuals.
8. North Carolina and Washington
North Carolina and Washington tie for 8th place, with both of them mining 2.5% of the nation’s cryptocurrency.
9. Wyoming
Honestly, we are surprised that Wyoming isn’t higher on the list. With all of the space, low cost of living, cool temperatures, and wind turbines, we truly expected it to mine more than 0.7% of the nation’s cryptocurrency.
Do note, however, that the regulations in Wyoming are very positive to cryptocurrency companies, so we do expect this number to rise in the future—if miners can handle Wyoming’s brutal winters, that is.
10. Nevada, Montana, South Dakota, Ohio, and Pennsylvania
Last on our list is a five-way tie with all of these states, each mining just 0.1% of the nation’s crypto. So, if you live in Nevada, Montana, South Dakota, Ohio, or Pennsylvania, know that there are likely one or two crypto mining companies (or individuals) operating in your state.
Because this number is so small, you can assume that any state not on this list does not currently having any mining facilities in operation—though that could change in the future!
