New data stemming from the latest Cambridge Centre for Alternative Finance (CCAF) report on bitcoin mining indicates that China still holds the second position in terms of global hashrate. While China commands close to 22% of Bitcoin’s global hashrate, the United States currently dominates with 37.69%, according to CCAF researchers.
China Is Still the World’s Second-Largest Concentration of Bitcoin Miners
The Cambridge Centre for Alternative Finance updated the organization’s bitcoin mining data and map in order to highlight 2022 hashrate statistics. In July 2021, Bitcoin.com News reported on the CCAF’s data that showed China’s hashrate dropping by 46%.
At the time, China’s government enforced a ban on bitcoin mining and a great deal of the country’s miners re-located. However, the latest CCAF stats show China’s hashrate is still very prominent as the country is the second-largest leader in terms of global hashpower dedicated to the Bitcoin (BTC) network.
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