According to a recent study by Perryman Group, up to today the Bitcoin mining industry in the USA has directly or indirectly created more than 31,000 jobs.
The study emphasizes that Bitcoin mining remains a primary function for most major market participants, and the companies involved act as important employers and taxpayers in their local communities, which are often relatively small and rural, also providing peripheral benefits to the areas in which they operate.
Additionally, they support the utilities sector.
The report on jobs in the field of Bitcoin mining
The Perryman Group report is titled “The Economic Benefits of Bitcoin Mining for the USA and Key States”.
It was created by Perryman Group and was published by some organizations for the blockchain, such as Texas Blockchain Council and The Digital Chamber.
It focuses particularly on 12 US States that represent the majority of Bitcoin mining activities in the country, and estimates that, considering the multiplier effects, this sector along with related public utility activities generate total economic benefits in the USA of over 4.1 billion dollars of gross product each year, and more than 31,000 jobs.
Texas is by far the state that produces the most, from this point of view, with estimated benefits of about 1.7 billion dollars in gross product and over 12,200 jobs (including the multiplier effects).
Other leading states are Georgia (316.8 million in annual gross product and 2,300 jobs) and New York (225.9 million in annual gross product and 1,600 jobs).
The report also highlights how the positive effects of the Bitcoin mining industry in the USA extend far beyond jobs and ongoing operations, because for example, it can help stabilize power grids thanks to its flexible energy requirements.
In addition to this, the companies involved in mining also invest in their local communities, providing monetary donations and sponsoring community events and initiatives. The report highlights how many of these companies provide on-the-job training and prioritize a diverse workforce.
The authors add:
“The companies in the sector are committed to the areas where they are based and to operating in an ecologically responsible manner. It is likely that the sector will continue to grow and act as an important partner for future prosperity”.
Bitcoin mining in the USA
The USA is the single country in the world with the highest overall hashrate.
With more than 310 Eh/s, they hold more than 37% of the entire global hashrate, followed in second place by China with 21%.
In other words, a third of the world’s total hashrate for Bitcoin mining is concentrated in the USA.
Furthermore, the study reveals that Bitcoin mining is a growing sector with a significant impact on local economies.
By now, the United States of America is becoming one of the most crypto-friendly countries in the world, so much so that even President Trump has announced that he wants the majority of the world’s Bitcoin mining activity to be concentrated there.
The fact of being able to have, in some areas, low-cost energy sources makes the USA the ideal place to start Bitcoin mining activities, especially in Texas. However, there are some states that are opposed, generally either because they do not have large amounts of low-cost energy, or for environmental reasons.
It should be noted, however, that a large part of the energy consumed in the USA for Bitcoin mining is produced from sustainable sources. The same cannot be said for the other major global competitors, primarily China and Kazakhstan.
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The sources of energia
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The high electricity consumption of Bitcoin mining is most likely the single biggest current problem for Bitcoin itself.
In reality, the Bitcoin protocol does not require a lot of energy to be consumed, but in fact, it incentivizes the maximum convenient consumption, as it rewards those who use higher hashrate.
However, there is a significant difference between using sustainable sources, as most US miners do, and using fossil fuels as Chinese or Kazakh miners do.
Trump, however, has stated that he wants to ease the restrictive regulations on those who use fossil fuels, but he has also stated that they will use nuclear power.
In particular, it is precisely in the nuclear field that more experimentation is taking place, especially for the large data centers that are used for intelligenza artificiale.
For example, in October 2024 Google signed an agreement with a nuclear engineering company, Kairos Power, to develop a small-scale nuclear reactor for its AI operations. The idea, however, is to make the project operational only by 2030.
Small-scale nuclear reactors are small enough to fit, for example, on a classic 18-wheeler truck, and they can be built on-site within specialized facilities. Thanks to this technology, in the future, it could be possible to generate and consume much more electrical energy than is currently done.
