The share of Chinese miners in bitcoin hash rate reached 66%

Miners based in China now control two-thirds of the total computing power.Bitcoin network power. It is reported by Reuters, citing a fresh report by CoinShares.

In June, this value was 60%, reachingDecember is the highest level in the last two years during which CoinShares tracks this data. According to the chief researcher of the company Christopher Bendixen, such an advantage of the Chinese miners may be due to a large number of farms or more advanced equipment for mining cryptocurrency.

“This gives an advantage to the Chinese mining industry. If you can increase your share in hashrate and get ahead of your competitors, then overall this is good. ”, — Bendixen said.

As the publication recalls, such major mining equipment manufacturers as Bitmain, MicroBT and Canaan are also based in China.

CoinShares representatives also noted that since June, the bitcoin hash rate has increased by 80%, which was partially possible due to the high profitability of this activity and more powerful equipment.

Data: blockchain.com

The graph below also shows that the first six largest pools (excluding the “unknown 25.3% of the network share) are the Chinese Poolin, F2Pool, BTC.com, Antpool, ViaBTC and BTC.Top

Data: blockchain.com

 

Let us remind you that despite the harsh rhetoric of the Chineseauthorities regarding cryptocurrencies, in November the National Development and Reform Commission (NDRC) did not include mining in its list of “undesirable industries” that should be banned.

Before that, in support of the development of mining inthe Chinese province of Sichuan, where, according to some sources, up to 70% of all bitcoins are mined, the former vice president of the China Securities Regulatory Commission said.