65% of Global Bitcoin Hashrate Concentrated in China

[Geey]

A new bitcoin mining map by the University of Cambridge shows that China accounts for 65% of the world’s hash power. About half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total.

Launched recently, the university’s Bitcoin Mining Map provides data on the average hash power generated by each country every month. Current statistics cover the period September 2019 to April 2020.

The map is based on geo-location data or IP addresses of hashers connecting to the Bitcoin (BTC) mining pools BTC.com, Poolin, and Via BTC. The pools represent around 37% of the total Bitcoin hash power.

Hash rate is a measure of the power of the computers linked to the Bitcoin network, which determines their ability to produce new coins.

According to the map, prepared by the University of Cambridge Centre for Alternative Finance (CCAF), China’s hash power dwarfs that of the US nine-fold, with America accounting for just 7.24% of the global hash power total, a distant second place.

At 6.9%, Russia comes in third followed by Kazakhstan with 6.17%, Malaysia with 4.33%, and Iran with 3.82%. The rest of the world make up 6% of the hash rate.

Often saddled by huge power bills, cryptoccurency miners have flocked to China, lured by the promise of cheap renewable electricity. As per the map, the second largest concentration of hash power in China is in the Sichuan province, with 9.66%.

Inner Mongolia, Yunnan and the capital city of Beijing are key mining areas as well, accounting for 8.07%, 5.42%, and 1.73% of the national hashrate total, respectively.

CCAF admits that the sample that produced the hash power distribution map “may not be fully representative” because “it represents only a little more than a third of the total hashrate; and second, the data is provided by three Bitcoin mining pools that are all headquartered in China.”

To correct the seeming China bias, CCAF hopes to add data from major mining regions such as Siberia in Russia, Washington and New York States in the US, Québec and Alberta in Canada in upcoming reports. Read More

[MrSpasybo]

Perhaps we need to pay more attention to this issue to ensure the decentralization of BTC. I don't dare to think of the Chinese government being allowed to segment the fate of mining farms...

[Geey]

Perhaps we need to pay more attention to this issue to ensure the decentralization of BTC. I don't dare to think of the Chinese government being allowed to segment the fate of mining farms...

Yes, because China is still confused about the truth of mining legality. it could also be only used as news issues

[MrSpasybo]

I believe that the Chinese authorities understand the power of blockchain, they can also completely control BTC by "controlling" mining farms. If that happens, BTC will lose all of its decentralized strengths.
Countries are looking to move their production lines out of China, I think we should do the same for mining farms.

[Senin]

I'm a little surprised that the United States is in second place in Bitcoin mining, however, with a modest 7.24 percent.
For three years now, the Chinese government has continued to restrict bitcoin mining, which is why many miners have left to mine bitcoin in other countries, such as Canada, Belarus, Kazakhstan and others. At the same time, China continues to lead in hash power. It can be seen that the prohibitions on mining are not very respected there.

[wahyudi]

A new bitcoin mining map produced by the University of Cambridge shows that China accounts for 65% of the world’s hash power. About half of the country’s hash rate is produced in just one place, the autonomous Xinjiang region, which makes up 35.76% of the global total, Bitcoin.com reported.

[mlawson71]

I am not surprised, China has an enormous cryptocurrency industry.

[jonathancool220]

Indeed, China is extraordinary for technology problems and they don't want to be left behind by other countries in the world.
I think Xinjiang province is very enthusiastic about all this because it is confirmed that Xinjiang has been detected to have a high Hash Rate by experts at Cambrdige University.

But behind this 65% hashrate number, hopefully China should not play cunningly for its Bitcoin because if something happens, then Bitcoin can be manipulated easily by China.

[aiviaa485]

I think mining from China is not just about mining Bitcoin because maybe besides Bitcoin also surely this CHinace country is mining valuable altcoins like Monero and Ethereum.
But this is not just mining because behind all that China has a goal for other things, for example, is funding for their military which has now become a conflict between India on the land border and with Japan on the water border.

[gourav787]

Yeah , this is true because mining in China are legit and their is alot of bitcoin minner in China .
I think electricity is free their as a result ( in some area's ) as a result Chiana is on number one position in bitcoin mining .

[mlawson71]

Cryptos are incredibly popular in China despite the ban. According to a report by LongLash, there has been 10,000 newly registered blockchain startups in China this year. It's mind-boggling, considering the ban.

[Senin]

This is already history. After the Chinese government banned cryptocurrency mining and the People's Bank of China announced that all transactions in China are illegal, according to the latest statistics, China accounts for 0 percent of the bitcoin hashrate. China's monopoly on bitcoin mining is a thing of the past. The Chinese government will no longer be able to periodically intimidate mentally unstable participants in the cryptocurrency market with negative information about the possibility of a ban on cryptocurrency. So far, the first place in bitcoin mining belongs to the United States.

[Paglamon]

I think it is better to further decentralize the transactions and use of BTC. However, it is difficult to understand that it is in his hands. After John McAfee's death, how was it reported that the Bitcoin stock was dead? However, there is a strange ambiguity about who is in control. So I think it's better not to publish it. Because there is a lot of big industry here, there is fog so it is good for every holder.

[Criminal]

Yes, brother, you are right. Most bitcoin transactions are regulated from China. China, however, occasionally promotes the negative potential of bitcoin relations. As a result, the Bitcoin market collapsed. A few days ago, the Chinese government said it would no longer support bitcoin in their country. Then we all know that the price of bitcoin went down a lot.