China’s Bitcoin hash power fell before the crackdown: Cambridge data

China’s Bitcoin hash power fell before the crackdown: Cambridge data

Cambridge research shows that China’s Bitcoin mining power fell by 40% before the crackdown, while the United States’ hash power has quadrupled. China’s crackdown on Bitcoin (BTC) mining due to energy consumption concerns is widely regarded as the trigger for the miners’ exodus from Asia to Western countries. But new research by the Cambridge Centre for Alternative Finance suggests that the shift in mining power started before China’s renewed scrutiny.Reuters reported that China’s total computing power connected to the Bitcoin network, or hash rate, fell from 75.5% in September 2019 to 46%....


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