Cryptocurrency Q&A
How big is China's share of bitcoin mining in 2021?
How big is China's share of bitcoin mining in 2021?
Chiara
Thu Jul 11 2024
|
6 answers
1596
As a keen observer of the cryptocurrency landscape, I'm curious to know the extent of China's dominance in bitcoin mining in 2021. Given the country's vast resources and technological prowess, I suspect it holds a significant share of the global bitcoin mining hash rate. However, the recent regulatory clampdown on crypto activities in China may have had an impact. Could you elaborate on the current situation? Specifically, how much of the total bitcoin mining hash rate is attributed to China, and how has this figure changed over the past year? Are there any indications that this trend may continue, or could we see a shift in the balance of power in the near future?
6 answers
DigitalBaron
Sat Jul 13 2024
Prior to the announcement of government measures, China's dominance in global bitcoin mining had already begun to wane.
Was this helpful?
168
72
BitcoinBaron
Sat Jul 13 2024
According to CCAF's previous analysis, China's share of global bitcoin mining had declined to 46 percent by April 2021.
Was this helpful?
286
72
CryptoPioneer
Fri Jul 12 2024
This decrease in market share was observed several months before the government took any official actions.
Was this helpful?
187
38
ShintoMystic
Fri Jul 12 2024
The reduction in China's bitcoin mining power indicates a shift in the global landscape of cryptocurrency mining.
Was this helpful?
303
88
BlockchainBrawler
Fri Jul 12 2024
With China's mining capacity diminishing, other countries and regions are likely to emerge as new leaders in the bitcoin mining industry.
Was this helpful?
296
27
Load 5 more related questions
