Around 20% of Bitcoins Hashrate Still Comes From China
Key Points:
After China banned crypto related activities earlier this year, most of the miners moved from China to other locations such as the U.S. and Kazakhstan
Data is showing that not all of the miners fled China. Before the bans, China contributed as much as 75% of Bitcoins network hashrate and has since lowered to around 20%
Qihoo 360, a prominent Chinese cybersecurity firm, reported in November that there are over 100,000 ip addresses in China that are being used to mine cryptocurrencies on a daily basis
Will China take more drastic actions to stop the remaining crypto miners and to fully clear the way for their central bank digital currency (CDBC), e-CNY (the digital yuan)?
