The beginning of the decline for Bitcoin mining in China

By Bichoco | BiChoco | 11 Jun 2020

According to a new study by TokenInsight, the Chinese bitcoin mining industry is in decline.

China's electricity allocation within the Bitcoin network decreased from 75.63% in September 2019 to 65.08% in April 2020 according to Cambridge University. Indeed, the famous English institution has a calculation tool providing a rough estimate of the hashrate produced by country.

The lessons are many: China is losing ground to the United States, which is in second place in the network, accounting for 7.24% of global hashrate. Kazakhstan is once again a challenger after having gone from a total of 1.42% of computing power in September 2019 to 6.17% at the end of April 2020.

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