While China used to rank first in the world in terms of Bitcoin capacity, now US miners control the lion’s share of BTC hashrate. Some researchers estimate Kazakhstan and Russia have ousted China from the list of major miners.
However, the Cambridge Center for Alternative Finance (CCAF) has found that in spite of the crackdown on mining companies, China still controls more than 22% of the asset’s hashrate.
The South China Morning Post has reported citing the CCAF report that Chinese miners generate up to 22.29% of Bitcoin capacity. That figure rose in the spring, as China accounted for just under 20% of BTC hashrate in the fall and winter.
Many Chinese citizens and businesses began to switch to secret mining against the backdrop of the fight against miners. Moreover, they are mining using foreign proxy services.
