As we all know over 51% hash power is located in China's Territory due to cheap electricity, favorable weather condition and its topography supporting electricity production.

But according to the report release on June 2020 by Tokeninsight (pdf file: Click Here), suggesting that china is slowly losing ground on hash power after global bitcoin halving event and on the other hand, US mining industry is showing sign of increase in hash power over the mining industry.

According to report, since 2019 estimated hash rate has dropped from 75.63% to 65.08% as of June 2020 while United States has begun to increase from 4.06% to 7.28% i.e. 78% incremental over the period. It is also reported that the mining marginal profit falls below almost zero after bitcoin halving event. This may be the cause the chinese mining industry spending less  resources on mining.

Source Image @ Tokeninsight

After bitcoin halving event, 'there will be the sell-off of old machines as mining profit declines', according to report. So does the other altcoins may get the focus for mining as the profit margin is still large for some valued base new project.

However, as more efficient and and higher grade equipment will launch on market, China may soon loose its edge over the mining/hash power industry. But it will be remains to be seen how the Crypto market moves in furture as different government trying to regulate the digital asset.