Jul 1, 2022

Kazakhstan is among the leaders in bitcoin mining

Kazakhstan is among the leaders in bitcoin mining

The Arcane Research team drew attention to the increase in the share of Kazakhstan in the bitcoin hashrate. In the report the 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%.

Kazakhstan is among the leaders in bitcoin mining

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

BTC hashrate has been decreasing over the past 12 days. On November 2, this figure dropped below 108 exaches per second (EH / s) - this is the lowest mark since mid-June of this year.

Kazakhstan is among the leaders in bitcoin mining

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

According to her spokesman Garrick Hilleman, the computing activity on the network is constantly changing. It cannot grow indefinitely, so periodic falls are the norm.

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

Kazakhstan is among the leaders in bitcoin mining

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