On July 15, BitOoda, a global platform for digital asset technology and financial services, released a Medium report titled “Bitcoin Mining Hashrate and Power Analysis”, claiming that China accounts for only 50% of Bitcoin’s mining capacity in all the world.
Perhaps reading that China has 50% of Bitcoin’s mining capacity, one might think: “It is enough!” However, we must bear in mind that this represents a decrease in the power of the country.
In fact, it can be compared to the previous results of the Cambridge University Center for Alternative Finance (CCAF). This investigation established that China has a 65% market share.
New BitOoda Research Reveals Various Pieces of Information Worth Analyzing
“We were able to locate ~ 4.1 GW of electricity at 153 mining sites, including 67 sites or ~ 3 GW of power, with data on energy prices provided on condition of anonymity,” the report said.
Likewise, the report found that 14% of mining now comes from the United States. This offers the possibility of accelerated growth for the country as a Bitcoin mining center.
While Russia, Kazakhstan and Iran each represent 8%, Canada 7%, Iceland 2% and the rest of the world 3%.