🇨🇳 China gain second place in total Bitcoin mining hash rate

In July of 2021 China imposed a harsh ban on crypto currency mining.

That cause the big mining farm to seek other country to continue their operation without the fear of being prosecuted by the Chinese government.

Most of those farm moved to the Us which propulse the country to the first place with 37.84% of the global hash rate.

But the ban didn’t work as well as the Chinese government thought it would. Since the ban, China as regain the second place with 21.1% of the global hash rate. This is probably a consequence of the never ending rise in energy price since bitcoin mining profitability is heavily correlated with electricity price.

That led some operator of those farm to return to China in search of cheaper energy while risking getting their asic miner seized.

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