United

Foundry

Since its inception in 2019, <a href="https://ultramining.com/en/ratings/foundry/">Foundry</a> USA Pool has skyrocketed to become the world's #1 mining pool. A recent report highlights the pool's remarkable growth, especially in North America. According to the most updated <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a> map from July 2023, the global <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a> is around 400 EH/s, more than double the 174 EH/s reported at the end of 2021, according to <a href="https://medium.com/foundry-digital/foundry-usa-pool-hashrate-by-state-f9dc92e7bc3b">medium</a>. 
Interestingly, <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">Texas</a> dominates in hashrate representation. The data suggests that <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">Texas</a> is not only a major player in <a href="https://ultramining.com/en/ratings/foundry/">Foundry</a>'s success but also in the broader <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/">U.S.</a> <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">mining industry</a>. Compared to 2021, Texas has seen a significant increase in mining activity. As a result, this suggests a more dynamic, decentralized mining ecosystem evolving in the <a href="https://ultramining.com/news/en/pennsylvania-a-new-hub-for-cryptomining-ignites-environmental-concerns/">United States</a>. 
On the flip side, New York’s stagnation is also noteworthy. This lack of growth is attributed to the mining moratorium imposed by the state in November 2022. Thus, regulatory climates clearly influence the geographical distribution of crypto mining operations. 
Despite the absence of some states like California on the map, Foundry clarifies that it doesn't signify a lack of crypto mining activity. Rather, it indicates that no miners from those states consented to share their data. Therefore, the map might not be fully reflective of nationwide activity but still offers a snapshot into industry trends. 
Notably, the data was collected during a period of curtailment in Texas, between July 21st and July 27th, 2023. This means the actual hashrate in Texas might even be higher than reported, making Foundry's growth even more astonishing. 
This trend of rapid expansion aligns with Foundry’s mission of empowering a decentralized infrastructure. The company continues to focus on professional, secure solutions to meet growing institutional demand while also supporting miners of various sizes.

Explosive Growth Marks Foundry USA Pool as World’s Top Mining Pool

Ultramining_Eng

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