Texas Accounts for 30% of USA Bitcoin Hash Rate

The most recent Hashrate Map from crypto mining service provider Foundry USA reveals that Texas accounts for more than 28% of all Bitcoin hashing power in the United States.

According to the freshly updated map, Texas maintains 28.5% of the country's Bitcoin hash rate, followed by Georgia with 9.64%, New York with 8.75%, and New Hampshire with 5.33%. The hash rate of Bitcoin shows how quickly a mining machine operates when attempting to calculate a valid block hash.

In December 2021, a snapshot of Foundry's pool shows a different picture. At the time, Texas controlled 8.43% of the country's hash rate, while Georgia controlled 34.17%. In the meantime, Kentucky had 12.40% and New York had 9.53%. In 2023, more states in the U.S. will be mining Bitcoin than in 2021.

Foundry states the Bitcoin global hash rate had reached 400 exahashes per second (EH/s) by July 2023, which is nearly twice as high as it was at the end of 2021, when it stood at 174 EH/s.

The data was collected between July 21 and July 27, 2023, when Texas had power outages. According to the paper, the data collected during curtailments indicates that the Texas hash rate could be "higher than what's reported on the map."

During power outages, Bitcoin miners reduce their output to balance the grid's energy supply and demand. It is essentially a method of balancing energy use at peak times. A scheme in Texas rewards large energy customers, such as Bitcoin miners, for being energy efficient.

Sources:

https://cointelegraph.com/news/texas-home-nearly-30-percent-bitcoin-hash-rate-foundry

https://coinmarketcap.com/community/articles/651529a1c2e8564d11becfc8/