16
Oct
Get China Bitcoin Mining Pictures. Bitcoin erased its 2021 gains last week as china ramped up its crackdown on mining of the cryptocurrency, a move that's expected to help shift the industry's center of gravity from asia to. China controls nearly 70% of the world's bitcoin mining capacity, with more than 100,000 miners.
China's reduced contribution to bitcoin's hash rate could mitigate some of the concerns about losing the country's mining operations, but 46% is still a significant chunk of the power devoted to.
The research, published thursday by the cambridge centre for alternative finance, shows china accounted for less than half (46%) of the power used for bitcoin mining in april, down sharply from. Ostensibly, beijing's latest move was tied to concerns about crypto mining's toll on the environment. Chinese mining pools control more than 60% of the bitcoin network's collective hashrate. New research by the cambridge centre for alternative finance (ccaf) shows that china's share of bitcoin mining fell from an impressive 75.5% in september 2019 to 46% in april 2021—a period before the recent government crackdown on the mining industry.
