{"id":4236,"date":"2022-05-18T11:32:41","date_gmt":"2022-05-18T11:32:41","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=4236"},"modified":"2022-05-18T11:32:42","modified_gmt":"2022-05-18T11:32:42","slug":"study-amid-mining-bans-china-still-commands-worlds-second-largest-share-of-bitcoin-hashrate","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=4236","title":{"rendered":"Study: Amid Mining Bans, China Still Commands World&#8217;s Second-Largest Share of Bitcoin Hashrate"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>New data stemming from the latest Cambridge Centre for Alternative Finance (CCAF) report on bitcoin mining indicates that China still holds the second position in terms of global hashrate. While China commands close to 22% of Bitcoin\u2019s global hashrate, the United States currently dominates with 37.69%, according to CCAF researchers. <\/strong><\/p>\n<h2>China Is Still the World\u2019s Second-Largest Concentration of Bitcoin Miners<\/h2>\n<p>The Cambridge Centre for Alternative Finance updated the organization\u2019s bitcoin mining data and map in order to highlight 2022 hashrate statistics. In July 2021, Bitcoin.com News reported on the CCAF\u2019s data that showed China\u2019s hashrate dropping by 46%.<\/p>\n<p>At the time, China\u2019s government enforced a ban on bitcoin mining and a great deal of the country\u2019s miners re-located. However, the latest CCAF stats show China\u2019s hashrate is still very prominent as the country is the second-largest leader in terms of global hashpower dedicated to the Bitcoin (BTC) network.<\/p>\n<p>The study\u2019s authors believe the miners located in China are likely leveraging virtual private networks (VPNs) to conceal their locations. The report indicates that China\u2019s share of the overall Bitcoin network hashrate was 21.11%.<\/p>\n<p>CCAF\u2019s data derives from the organization\u2019s partner mining pools Foundry, Poolin, Viabtc, and Btc.com. Moreover, some of the hashrate stemming from China did not leverage VPNs and CCAF\u2019s researchers believe those miners are comfortable with their locations unhidden.<\/p>\n<h2>Unites States Dominates Bitcoin\u2019s Global Hashrate by More Than 37%<\/h2>\n<p>CCAF\u2019s report notes that a \u201cnon-trivial\u201d quantity of Chinese miners may have thought the ban wasn\u2019t a big deal. \u201cIt is probable that a non-trivial share of Chinese miners quickly adapted to the new circumstances and continued operating covertly while hiding their tracks using foreign proxy services to deflect attention and scrutiny.\u201d<\/p>\n<p>Following CCAF\u2019s updated data in July and October 2021, a CNBC report noted that unnamed sources told the reporter MacKenzie Sigalos that bitcoin miners were still located in China. China\u2019s hashrate is sizable compared to a great number of other countries, however, the U.S. still dominates Bitcoin\u2019s global hashrate by 37.69%.<\/p>\n<p>CCAF\u2019s data from last July showed the U.S. captured 16.8% of the global hashrate last year. If CCAF\u2019s data is correct, that would mean the U.S. hashrate has climbed 124.34% since July 2021. Pool distribution metrics match with CCAF\u2019s data as the mining pool Foundry USA has captured 19.5% of the global hashrate during the last three months. 13,182 blocks were mined during the three-month period and Foundry USA found 2,566 of them.<\/p>\n<p>Tags in this story<\/p>\n<p>Bitcoin mining, Bitcoin Mining Operations, BTC Mining, BTC.com, Cambridge Centre for Alternative Finance, CCAF, China, CNBC report, data, Foundry USA, Global Hashrate, metrics, Mining Pools, Poolin, Russia, United States, US hashrate, ViaBTC<\/p>\n<p><em><strong>What do you think about the latest CCAF data that shows close to 22% of the world\u2019s Bitcoin hashrate still resides in China? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n<p>Jamie Redman <\/p>\n<p class=\"article__body__author__info__about\">\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.<\/p>\n<p><i class=\"td-icon-font td-icon-twitter\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/study-amid-mining-bans-china-still-commands-worlds-second-largest-share-of-bitcoin-hashrate\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New data stemming from the latest Cambridge Centre for Alternative Finance (CCAF) report on bitcoin mining indicates that China still holds the second position in terms of global hashrate. While China commands close to 22% of Bitcoin\u2019s global hashrate, the United States currently dominates with 37.69%, according to CCAF researchers. China Is Still the World\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-4236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4236"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4236\/revisions"}],"predecessor-version":[{"id":4238,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4236\/revisions\/4238"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/4237"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}