China has “re-emerged” as a major bitcoin mining hub in 2022, representing greater than 20% of the Bitcoin community’s hash fee, in line with new data from Cambridge’s Centre for Alternative Finance (CCAF). The October 2021 data update from CCAF indicated that “mining operations in mainland China have successfully dropped to 0.”

So, what brought about this purported huge whiplash in mining task from a CCAF-reported high of 75% in September 2019, to 0%, and now again to 20%? Since July 2021, Bitcoin’s hash fee has grown at a gradual tempo, paring its losses from China’s unique ban and proceeding to set record highs in fresh months. However what came about in China? And is the brand new CCAF information a correct illustration of the state of bitcoin mining?





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here