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20% of Bitcoin Hashrate Is ‘Still in Mainland China,’ Report Claims
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cryptonews.comAs much as 20% of the world’s total bitcoin (BTC) mining hashrate may still be based in Mainland China despite September’s crackdown, a new report has indicated.
Although Beijing has been seeking to make an example of miners who continue to defy its blanket ban on mining, authorities in the country continue to unearth pockets of miners who have refused to shut off their rigs and are trying to evade detection.
Per a CNBC report, however, the scale of such operations may be larger than first thought.
The media outlet stated that “multiple sources” had told it that “as much as 20% of all the world’s bitcoin miners remain in China.” The mainland used to account for almost three-quarters of global mining hashrate, and an outflow of miners to
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