Chinese Miners Control Over 60% of BTC Hash Rate
Main page News, China, Mining

London-based digital asset manager CoinShares has just reported Chinese cryptocurrency miners control around 66% of the hash rate of the BTC’s network, Reuters has reported.

According to the report, the hash rate of the bitcoin network which is controlled by Chinese miners has jumped from 60% in June to 66%.

In particular, 50% of the total hash rate is controlled from the Chinese province of Sichuan. However, Yunnan, Xinjiang and Inner Mongolia are other areas that also concentrate a large share of bitcoin’s hash rate. Regarding other countries, the United States, Russia and Kazakhstan are the ones with the highest share.

This recent increase in China's share is reportedly related to the improvement of the miners’ mining devices. For instance, some of the most popular makers of mining hardware are Chinese companies, including Bitmain, Canaan and MicroBT, so it is not surprising that the country's miners have the most sophisticated devices available on the market.

iHodl has recently reported that the hash rate of the bitcoin network has been increasing significantly. For example, in September it was known bitcoin’s the hash rate had doubled in just 24 hours in spite of the fall of the crypto’s price.

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