BlocksInform
China’s underground Bitcoin mining hashrate contributes 22% to global mining hashrate as it increases by 3% in the three months leading to January, 2022 amidst government crackdown. Per data from a chart provided by Cambridge Bitcoin Electricity Data, mining hashrate seems to be on the increase in Mainland China despite the government crackdown on Bitcoin mining.
China contributed over half of global BTC hashrate in January, 2022
On the chart presented by the university, China’s hashrate reached 22% of global hashrate in January of this year, second only to the US which contributes 37.84% average monthly hashrate. Kazakhstan comes in 3rd place with a hashrate of 13.22%.
China contributed to over half of global Bitcoin hashrate in January, 2021, standing firmly at a rate of 53% with the United States coming second at a contribution rate of 10.55%. The Chinese hashrate has gradually and persistently declined in the months following the vigorous efforts of the country to suppress the extraction of BTC.
The chinese government intensified its antagonism towards bitcoin and bitcoin mining middle of last year as it stepped up its attempts to enforce the ban on bitcoin, forcing major mining companies to stop operating in the region.
Bitcoin's commercial volume in China took a nosedive when the country's capital and the second most populated city Beijing officially placed a ban on digital assets in 2017. The Chinese government has since expressed occasional disapproval of the asset.
