According to a survey published yesterday by asset manager Fidelity and crypto research firm BitOoda, China controls about 50% of Bitcoin mining, a figure that indicates the Asian giant does not dominate the mining industry as much as many people thought.
According to the authors of the survey, the sources used cannot be disclosed because they accepted to take part in the study only if their identity remains anonymous. Therefore, it is not possible to verify their accuracy, which is the reason why the results are open to interpretation.
In addition, the survey results also show the US controls 14% of the crypto mining.
The authors of the study acknowledge they "have accounted for the majority of capacity in the US, Canada and Iceland, but only a small fraction in China and the ‘Rest of World’ category."
As a result, China's mining capacity may be much larger. It has previously been suggested the country controls as much as 65% of the mining of the largest crypto in the market.
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