CBECI: China remains the second largest mining bitcoin – Bits Media

According to the Cambridge Bitcoin Miners Energy Consumption Index, despite the ban on cryptocurrencies in China, the country still remains the second largest BTC mining volume.

As reported by Cointelegraph with reference to the CBECI report, now miners from the Middle Kingdom are generating 21.1% from the total network hashrate of the first cryptocurrency. Moreover, last year the Chinese authorities banned both mining, and the circulation of digital currencies in the country.

Previously, China was the leader in the mining market. IN 2019 year, devices from the Middle Kingdom generated three quarters of the total Bitcoin hashrate. After the ban it was reported, that in China mining has almost completely stopped. but, Apparently, many companies continue to mine cryptocurrency illegally.

“Our data empirically supports claims from mining industry insiders that, that Bitcoin mining continues in China. Although mining volumes are far from previous levels, The Middle Kingdom still generates about one-fifth of Bitcoin's hashrate.", – said CBECI project manager Alexander Neumüller (Alexander Neumueller).

Note, that Russia is beginning to lose its position. If previously Russia occupied third place in the ranking of countries in terms of mining volume, then now she dropped out of the top 3. Now miners from Russia generate about 4.7% of the total hashrate of the Bitcoin network. At the same time, the general hashrate of Russian miners decreased with 13.6 Eh/s in August last year before 8.6 Eh/s in January of this year.

The USA remains in first place with 37.8% from the total hashrate. China is in second place, and the third place is occupied by Kazakhstan with a result of 13.2%. At the same time, Kazakhstan’s share in the total hashrate is also decreasing – from 18% last August to 13.2% in January. In the United States, the largest contribution to the mining industry is made by the states of Georgia, Texas and Kentucky.

Earlier, a group of environmental activists from the United States demanded that ministries and departments take measures to supervise the mining of cryptocurrencies based on PoW.