It seems that the features of the impact of the Chinese decision to ban bitcoin mining, its consequences and results, through the shift of the poles of bitcoin mining outside China to different parts of the world.

North America saw an exceptional rise in bitcoin mining activity over the course of one month, with mining operations in the region up 58 percent.

As for this amazing growth, it was led by a group of farms and mining groups, represented by:

• Digital Marathon.
• Riot Blockchain.
• Bitpharm.
• Argo Blockchain.
• Hot 8.

These farms returned a total of 1,802 BTC in July compared to a total of 1,135.6 BTC in June.

Read:Report: SEC Rejects Bitcoin Leveraged ETF

As we mentioned at the beginning of the article, the noticeable rise in Bitcoin mining activity in North America is attributed to the Chinese ban on Bitcoin mining activity, which led to the migration of many miners to other geographic areas that provide them with what they need.

Currently, the Bitcoin mining activity has become more profitable, after the price of Bitcoin rose and exceeded the level of 45 thousand dollars.

The global cryptocurrency market cap rose and today reached above $1.94 trillion, a change of 3.7% in the last 24 hours.

The total cryptocurrency trading volume in the last 24 hours was $120 billion.

Bitcoin dominance at 45% and Ethereum dominance at 19.7%, according to the latest market update from coinmarketcap.

While some of the Chinese mining giants in North America have had a taste of the bullish Bitcoin, companies like BIT Mining, BIT Digital and The9 City are now shipping their hardware to regions like Kazakhstan, Russia and the United States, rather than the financial pressures around them. .

The US infrastructure bill may pose a threat to Bitcoin mining activity in the United States.

Read:For the first time: The number of daily active addresses on “Polygon” exceeds those of Ethereum

The CEO of trading platform FTX tweeted last week against the Crypto Infrastructure Bill.

He cited the ongoing lobbying against the crypto clause in the US infrastructure bill as a sign and warning sign for the US crypto community.

Additionally, it was speculated that the bill could cause bitcoin miners to migrate to other regions.

The bipartisan $1.2 trillion US infrastructure bill plans to drastically increase tax on digital currencies and raise nearly $28 billion in crypto tax measures.

Read:European Bank Uses Digital Stable Crypto as an Alternative to Swift for International Remittances

Additionally, tax regulations will also allow the US Internal Revenue Service (IRS) to require all digital asset affiliates to report tax liabilities on crypto transactions.

The letter that Securities and Exchange Commission Chairman Gary Gensler received from Senator Elizabeth Warren against volatile cryptocurrencies proves the strong opposition against the US crypto community.

In his response to the Massachusetts Democrat, Gensler said last Thursday:

At the moment, I think that investors who use these platforms are not adequately protected.

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