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What Ban? 20% Of All The World’s Bitcoin Miners Remain In China

News Snapshot:

Key Takeaways – China still influences Bitcoin through hashrate. – The contribution is coming from miners operating underground. – This may soon reduce as the miners are contemplating leaving China due to the country’s energy crisis. According to a CNBC exposé, cryptocurrency mining, although greatly reduced, is still alive in China despite the government’s efforts to stamp it out . The report noted that contrary to the Cambridge University estimate that put China’s contribution to the hashrate of the Bitcoin network at 0%, miners in the country may be contributing as much as 20%. This is however difficult to track…

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