Mountain province in southwest China, Sichuan is still a haven for the majority of Bitcoin miners. Mostly due to large amounts of cheap hydropower. Despite the tough stance of the country in relation to cryptocurrencies.
According to the latest report cryptocladopelma company Coinshare, China continues to dominate in the industry of mining Bitcoin, assuming 60 percent Hasrat network. The only Sichuan province accounts for 50 percent of the total world Hasrat. It is worth noting that last year the figure was 48 percent. The remaining 10 percent of Chinese miners are scattered in Yunnan, Xinjiang and Inner Mongolia.
According to the analysts, the increasing number of miners are partly linked to the upcoming rainy season, during which the cost of electricity is significantly reduced. Last year kilowatts of electricity in this province in the “wet season” cost 0,025 USD.
Coinshare, the report also notes that the last few years there is a steady downward trend in the dominance of China in Bitcoin mining. Rather, it is directly connected with a rigid negative position of the Chinese government. As we wrote in April, the country has developed the bill according to which the ban on mining will be made in several stages due to excessive energy consumption mining equipment.
Despite the reduction in geographic dominance, China remains the largest manufacturer of equipment for mining cryptocurrency. Three of the world’s largest manufacturer of mining equipment, Bitmain, Canaan and Ebang, — increasing power after the exit of more efficient models Bitmain Antminer 17, Canaan A10 and Innosilicon T3.
In our cryptodata there are still a lot of other useful information. Be sure to look.
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