October 1, 2022

China controls 66% of the global MTC hash

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CoinShares cryptocurrency center employees released a study according to which China controls 66% of the global hash power of the bitcoin network.

It is worth noting that Sichuan province accounts for 54% of the global hash rate.

The four largest mining pools in the world are located in China - Poolin, F2Pool, BTC.com and AntPool - and they account for about 55% of bitcoin mining.

Regarding the remaining third of the global hashrate, CoinShares employees said the following:

According to our estimates, of the remaining 35% of the totalof miners, 31 percent is evenly distributed between Washington, New York, British Columbia, Quebec, Newfoundland and Labrador, Iceland, Norway, Sweden, the Siberian Federal District of Russia, Kazakhstan, Georgia and Iran.

At the same time, the vast majority of energy (73%) used by BTC miners for the extraction of BTC is green energy from renewable sources.

Over the past year bitcoin hash rateincreased sharply, regularly breaking through record numbers. Representatives of CoinShares noted that this is probably due to the development and release of more powerful mining chips.