Don’t Belief Bitcoin Mining Information From China

Fenika Bench

China has “re-emerged” as a major bitcoin mining hub in 2022, representing greater than 20% of the Bitcoin community’s hash price, based on new data from Cambridge’s Centre for Alternative Finance (CCAF). The October 2021 data update from CCAF indicated that “mining operations in mainland China have successfully dropped to zero.”

So, what triggered this purported monumental whiplash in mining exercise from a CCAF-reported high of 75% in September 2019, to 0%, and now again to twenty%? Since July 2021, Bitcoin’s hash price has grown at a gentle tempo, paring its losses from China’s authentic ban and persevering with to set record highs in current months. However what occurred in China? And is the brand new CCAF information an correct illustration of the state of bitcoin mining?

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