New York Is The Most Attractive State for Bitcoin Miners, But There’s a Catch

[RSRS]

Recent research showed that nearly 20% of bitcoin’s hash rate within the United States is in New York, while Kentucky (18.7%), Georgia (17.3%), and Texas (14%) follow closely.

New York Leads The Way
The financing and advisory company focused on digital asset mining and staking – Foundry USA – conducted a survey to find out which states American bitcoin miners prefer the most as a location of their endeavors. Nic Carter – Co-Founder of Castle Island Ventures, who presented Foundry’s data – said the research is the first of its kind:

“This is the first time we’ve actually had state-level insight on where miners are unless you wanted to go cobble through all the public filings and try to figure it out that way. This is a much more efficient way of figuring out where mining occurs in America.”

Foundry, though, does not include all of the US-based mining farms in its database. Such is the example with Riot Blockchain, one of the largest companies in its field with a considerable presence in Texas. If it had been part of the survey, the Lone Star State could have registered a higher percentage, Carter explained. Riot was not a part of the research because it doesn’t use Foundry, the report explained

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