Miner Weekly: Mining Power Distribution in North America

Oct 01, 2022

We've mapped out megawatts of pubco miners.

Capacity map

More than a year after China expelled miners, North America has undoubtedly become the main computing hub securing the bitcoin network. And a varied political and social landscape in the U.S. and Canada has helped shape a more distributed power capacity for mining.

For this week’s issue, we have visualized the geographical distribution of mining power capacity based on the most recent financial statements and investor presentations of public mining companies with operations in North America.

The data comes from 17 public mining companies, two pending listings, and one private co-location provider that provides hosting to at least three public companies. Except for the two pending listings, whose latest data was from December 2021, data from the others was as recent as Q2’22 or the end of August.

Admittedly, the data is far from being comprehensive. We estimated that the self-mining and hosted power capacity of our sample is about 30% of the bitcoin network's hashrate. Our sample's power capacity amounts to about 2.8 gigawatts. While the states of Texas and Georgia are taking the top two spots, other states and provinces also accounted for notable shares. To put this into perspective, we would point out that the bitcoin hashrate was mostly located in Xinjiang, Sichuan, Yunnan, and Inner Mongolia prior to China’s crackdown in 2021. Xinjiang alone was believed to have two gigawatts of mining capacity.

The power distribution could also offer an additional color to the latest hashrate distribution map released by the FoundryUSA pool for states in the U.S. a few months ago.