China now controls 2/3 of the BTC hashrate due to advanced mining operations

posted 7 months ago
Over 66% of Bitcoin's global hashrate is now controlled by Chinese miners. The Chinese share of the mining market had surged almost 10% this past summer. One of the reasons behind this is related to greater deployment of advanced mining gear such as hydro powered electricity being utilized and abundant in China's rainy season.

Notably, 2 of the largest mining hardware manufacturers in the market, Bitmain and MicroBT are located in China.
Tags: bitcoin, blockchain, news