According to a report by research firm Coinshare, China continues to dominate the bitcoin mining industry, with 60% of the capacity located in the country.
Only in the province of Sichuan is 50% of the global hashrate of the BTC network. The remaining 10% of Chinese mining facilities are in Yunnan, Xinjiang and Inner Mongolia.
Over the past few months, Sichuan’s share of bitcoin mining increased (in November 2018 it was about 48%), but this is mainly due to the rainy season, during which the cost of electricity may fall to $ 0.025 per kWh. It attracts miners to the region, it was reported that this year for the first time the mining giant Bitmain decided to take advantage of advantageous energy tariffs.
However, the Coinshare report stresses that in recent years there has been a steady decline in China’s dominance in the geography of bitcoin mining. The company connects it primarily with the policy of the Chinese authorities in relation to the industry.
Despite the decline in the share of Chinese capacities in the extraction of the first cryptocurrency, local manufacturers retain absolute dominance in the production of mining equipment. As Coinshare recalled, the three largest world producers of miners – Bitmain, Canaan and Ebang – along with such newcomers as WhatsMiner and Innosilicon, are increasing their efforts to deploy next-generation powerful machines, such as the Bitmain Antminer 17 , Canaan A10 series, WhatsMiner M20, and so on. .d
Recall that this year, China’s highest macroeconomic planning authority introduced cryptocurrency mining to the list of 450 types of undesirable activities that should be terminated in the country. In May, authorities in Sichuan province began checking local Bitcoin farms for legality of location and activity. Last year, a campaign to combat illegal mining centers was launched in Xinjiang.
Publication date 12/06/2019
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