Go West, Bitcoin! Unpacking the Great Hashrate Migration

[Tanimariya]

All signals indicate the greatest shakeup in the geographic makeup of bitcoin mining since the start of the industrial mining era. By now, it should be clear the “hashrate migration” is real: Miners are leaving China for good. As of April 2020, an estimated 65% of bitcoin hashrate was domiciled in China; with confirmed bans across the country, that figure will be far lower 12 months from now. The precise magnitude and schedule for the westward move is currently unknown, but all signals seem to be indicating the greatest shakeup in the geographic makeup of bitcoin mining since the start of the industrial mining era. Source Link