After repressions in China, some miners changed jurisdiction. But there are also those who went underground. According to CNBC, such “gray” Chinese miners still account for about 20% of the total Bitcoin hashrate.
Earlier, researchers from the University of Cambridge stated that after the ban, China's hashrate fell from 75% to 0%. The industry leader was the United States, with a market share of 35.4%, Kazakhstan came in second place with 18.1% of the hashrate, and Russia closed the top three leaders in the world hashrate, with 11%.
Chinese analysts from Qihoo 360 brought out different statistics and daily monitor about 109,000 active IP addresses associated with cryptocurrency mining, most of which relate to provinces that were previously leaders in this area. According to their information, 20% of all mining capacity in the world is still located in China.
The Chinese government continues removing competitors, clearing the territory for the launch of the digital yuan and strengthening control over the financial flows of the population.
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