The USA.closes world largest bitcoin miners destination - so it will outperform China - The United States is about to become the largest bitcoin mining destination in the world, especially after this activity has been banned in China, the great dominator in recent years, according to the US television network CNBC.

In fact, some data already indicated that miners were moving their activity to the United States before it was banned in the Asian giant, as warned in the information managed by the University of Cambridge.

The United States is currently the second most bitcoin mining country on the planet: 17% of all miners in the world were operating there in April 2021. This figure is 151% higher than in September 2020.

These data still do not reflect China's new measure and the flight of hundreds of miners to the United States, so growth will presumably be higher over the coming months.

"We have noticed a massive increase in mining operations looking to relocate to North America, mainly the United States," Darin Feinstein, founder of Blockcap and Core Scientific, 2 companies that engage in cryptocurrency mining, reveals to CNBC.

USA.closes world largest bitcoin miners destination

Data offered by the University of Cambridge indicates that China accounts for 46% of the world's total hashrate, a term that refers to the computing power of the bitcoin network in a particular country.

However, according to CNBC information, the exodus of miners from China to the United States could cause 40% of the hashrate to be located in North America by the end of 2022.

The pandemic has caused several economic sectors to suffer historic declines and to be affected by an unprecedented crisis; millions of people have lost their jobs since March 2020.

USA.closes world largest bitcoin miners destination

But this is not the case of cryptocurrencies, which have been gaining in popularity and gaining new followers despite the crisis.

"People have been looking for places to park their cash. The appetite for large-scale investments has never been as great as at this time," bitcoin mining engineer Brandon Arvanaghi argues to CNBC.

To this trend is added that the United States has been preparing for years to improve its cryptocurrency mining infrastructure. It should be remembered that bitcoin collapsed in 2017 and that the market entered a crypto winter of several years, which caused it to be cheaper to implement the necessary infrastructure, a situation that several US companies benefited from.

USA.closes world largest bitcoin miners destination

In addition, we must add the lack of confidence that China's policies arouse in many miners worldwide: “If you are looking to move hundreds of millions of dollars from mining, you must ensure that you have geographical, political and jurisdictional stability. You also need to check that there is sufficient protection for private property," says Feinstein, stressing that the United States meets these conditions.

Another aspect that makes the United States a favorite destination for bitcoin is that it has some of the cheapest energy sources on the planet, which are also usually renewable and more environmentally friendly.

USA.closes world largest bitcoin miners destination

This aspect should be taken as seriously as possible, as some experts point out that bitcoin consumes far more energy than the traditional banking system.

The founding partner of Castle Island Ventures, Nic Carter, tells CNBC that, although mining in the United States is not fully renewable, it is expected that miners will end up opting for this type of energy when developing their activity, something that will be positive for the environment.

” The transfer of hashrate to the United States, Canada and Russia will mean a much lower carbon intensity, " says this expert.

USA.closes world largest bitcoin miners destination

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Good connectivity, sustainable mobility or housing promotion: 6 basic elements to combat depopulation, according to the spokeswoman of Emptied Spain

The lack of job opportunities for young people in many Spanish provinces causes them to migrate to large cities. The population that stays in what is commonly referred to as the Emptied Spain has an increasingly high age rate and if we add to the cocktail one of the lowest birth rates in the European Union, we are facing a bleak panorama.

The situation affects peoples most seriously. Mainly those distributed by the autonomous communities of Castilla y León, Castilla-La Mancha, Aragon or Extremadura, among others.

And if without children there is no future, without young people there is no present.

This is what platforms such as Teruel Existe, reconverted into a political party with parliamentary representation, or Soria Ya! The spokesperson for the latter and the Coordinator of the Emptied Spain (which brings together 140 entities), Vanessa García.

The pandemic predicted a new time in which thousands of young people from Spain and abroad would settle in these rural areas thanks to the extension of teleworking. However, this is far from happening, according to García. "In no territory has teleworking meant an increase in population in times of pandemic, except in isolated cases," he says.

And that some statistical data invited optimism. The province of Soria had been losing population continuously since 2012, but last year it gained inhabitants, for the first time since then: 248 more, according to data from the National Institute of Statistics (INE).

Questioned about this, the spokesperson of the Coordinator of the Emptied Spain, says that "Soria increased its number of inhabitants in 2020 due to the situation derived from the pandemic, however it was a specific situation and, once the situation experienced improved, its inhabitants reduced again". "On January 1, 2021, the province had lost 226 inhabitants with respect to the same date the previous year, counting with 88,658 inhabitants", apostille.

For Vanessa García, the opportunities offered by teleworking to these areas was little less than a mirage. "Teleworking was a false illusion for those of us who believed that it was a good opportunity for both our towns and the capital (in reference to Soria) to increase in number of inhabitants," he confesses.

The spokesperson for the Emptied Spain and others like her were "optimistic" and thought that when people arrived they would improve the services and infrastructure of these areas. "But it wasn't like that. People who came to telework looking for a better quality of life found the main, but not the only drawback: lack of connectivity, low speed and even areas without mobile coverage, " he adds.

And is that, as he points out, "after solving these problems more or less easily, and paying what the operators asked for to provide this service, there were those who studied the possibility of settling definitively in our province, but other factors did not make it easy", which made many undertake the road back.

The keys to stop depopulation are several and go beyond the internet. In May of this year, the Coordinator of Emptied Spain presented to the Congress of Deputies a document entitled "Development model of Emptied Spain". The document, which is also in the hands of the Ministry for the Ecological Transition and the Demographic Challenge, presents a series of "achievable measures", according to García, who considers that "there are funds for it" and can be implemented in a short period of time.