Part of bitcoin mining.
The independent project "CBECI" under the University of Cambridge released the latest data on the mining of cryptocurrency (virtual currency) bitcoin (BTC) on the 13th.
The data released this time is for August 2021. China has radically changed its mining portfolio since tightening virtual currency regulations in May 2009, and the United States has maintained its top position in terms of bitcoin mining since July.
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Tightening China's laws began in May this year when financial watchdogs, such as the National Internet Financial Association of China, reiterated their policy of banning virtual currencies in the country. Since then, cryptocurrency mining and transactions have been completely banned, and on the 11th it was reported that Chinese court authorities are looking for ways to punish cryptocurrency-related activities.
Related: China may be guilty of cryptocurrency-related activities Officials prepare a judicial interpretation.
Related: China's Corrupt Currency Rules Affecting the Bitcoin Market, Summary of Recent Trends
The image below is CBECI's August 2009 data, which compares the average monthly share of the hash rate by country. Although China's market share was gradually declining, it was at number one until June but dropped to zero the following July. In September 2019, when the CBECI began its analysis, China had a 75.5% share.
There is a theory that some mining is still going on in China, but the crackdown is in full swing.
The United States has replaced China since July. Market share was almost flat from July, but was 35.4% until August, double the 17.8% market share in May 2009 when China began tightening regulations.
Second place is like July, Kazakhstan. There is a saying that Kazakhstan has become a saucer for minors who can no longer dig in China because it is in contact with China and electricity is available at low prices.
The market share by country as of August 2009 is as follows, according to CBECI data.
- United States: 35.4
- Kazakhstan: 18.1
- Russia: 11.2
- Canada: 9.6%
- Ireland: 4.7
- Malaysia: 4.6
- Germany: 4.5
- Iran: 3.1%
- Other: 8.9
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