Chinese Bitcoin miners are responsible for 65% of the computing power of the network revealed a new study by digital assets manager CoinShares. The research was done by head CoinShares researcher Christopher Bendiksen, and research analyst Samuel Gibbons.
CoinShares said that the hashrate increased significantly the last two years from Chinese Bitcoin miners. The rapport also said: ´miners benefited more than ever from the high cash flows. Especially in spring and summer, many new investments have been made for more powerful and efficient equipment.´ According to the report, this has all been done in view of the upcoming halving. No less than 54% of all mining activities of the entire world takes place in the Chinese Sichuan region, probably because the region has a lot of cheap energy available.The remaining 35% of the processing power comes mainly from the United States, Canada, Russia and Kazakhstan.
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