August 8, 2022

20% of bitcoin hashrate still remains in China

20% of bitcoin hashrate still remains in China

After the repressions in China, some of the miners changed their jurisdiction. But there are also those who have gone underground. According to information CNBC, these "gray" Chinese miners still account for about 20% of the total bitcoin hashrate.

Formerly researchers at the University of Cambridgestated that after the ban, China's hash rate fell from 75% to 0%. The industry leader was the United States, with a market share of 35.4%, Kazakhstan came in second with 18.1% of the hash rate, and Russia closed the top three leaders in the world hash rate, with 11%.

Chinese analysts from Qihoo 360 brought anotherstatistics and daily track about 109,000 active IP-addresses associated with cryptocurrency mining, most of which belong to the provinces that previously led in this area. According to them, 20% of the world's mining capacity is still located in China.

The Chinese government continues to remove competitors, clearing territory for the launch of the digital yuan and tightening control over financial flows of the population.

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