Kazakhstan is among the leaders in bitcoin mining

The Arcane Research team drew attention to the increase in Kazakhstan’s share in the Bitcoin hashrate. In the reportthe researchers say that China is still leading the ranking of countries in terms of the amount of computing power used in the mining of cryptocurrency.

However, the influence of miners from the PRC on the bitcoin network is declining. Kazakhstan and Iran have significantly strengthened their positions.

In September, the Celestial Empire's share in the BTC hash was 75.6%. The share of Kazakhstan and Iran increased to 6.2% and 3.8%, respectively, although only in April 2020 it was 1.4% and 1.7%.

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Arcane Research also draws attention to the strengthening of the positions of American and Russian bitcoin miners.

BTC hashrate has been decreasing over the last 12 days. On November 2, this figure dropped below 108 exahash per second (EH/s) &#8212; This is the minimum level since mid-June of this year.

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However, the company Blockchain.com, which coined the term hashrate, believes that there is no reason to panic.

According to its spokesman Garrick Hilleman, computing activity on the network is constantly changing. It cannot grow indefinitely, so periodic falls &#8212; this is the norm.

Many analysts believe that the hashrate collapse occurred due to the fact that Chinese miners reduced capacity due to the end of the rainy season in a number of provinces of the Middle Kingdom.

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