Is The Bitcoin Hash Rate Starting To Move Away From China?

Although the majority of Bitcoin mining is still based in China, there are signs it is beginning to shift elsewhere.

Episode Transcript

(00:00):
Is the bitcoin hash rates starting tomove away from China? Next on Your
four Minute Bitcoin. Today's show isfrom a post by Martin Young at coin
Telegraph and brought to you by SwanBitcoin. Although the majority of bitcoin mining
is still based in China, thereare signs it's beginning to shift elsewhere.

(00:24):
Chun Wang, the co founder ofthe F two pool, which is one
of bitcoin's largest mining pools, reportedthat China represented less than half of bitcoin's
hash rate during April twenty twenty.Wang noted it was the first time the
pool had seen Chinese miners represent aminority of the hash rate in its eight

(00:46):
years of operation. Now Wang reposteddata published April twenty second by digital currency
groups Barry Sober, which revealed thatUnited States based bitcoin mining pool found Injury,
had climbed the rank among the topfive pools globally during April, commanding
a seven point six percent share ofthe hash rate. Sober claimed the leading

(01:10):
pools remain at Pool, which isoperated by Chinese mining hardware manufacturer of Bitmain,
with an eighteen point six percent shareof the total hash rate. Another
University of Cambrids calculated that Chinese miningdominance was around sixty five percent in April
twenty twenty figures. In January twentytwenty one, bitcoin mining publication Minor Daily

(01:34):
estimated China share had fallen to fiftyfive percent of bitcoin hashing power by the
start of this year, with theUnited States accounting for eleven percent now.
In late February, it was reportedthe authorities of the Chinese Autonomous Region of
Inner Mongolia proposed closing down all localmining facilities to reduce energy consumption in the

(01:57):
region that reason accounts for as muchas eight percent of the global hash rate.
In an article on Wednesday, Bitcoinpodcast hosts Marty Bent said that the
f two pool findings are a confirmationof a trend in the mining world of
hash rate production becoming more geographically distributed, and he added that this would also

(02:21):
help dissipate some of the China controlsmining fuds, surrounding the potential for the
country's central government to attack the network. Now, are you concerned at all
about China's hash rate? Please letme know your thoughts in the comments.
And this episode is brought to youby swan Bitcoin. Now. Swan bitcoin

(02:44):
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(03:06):
Gary, you can receive ten dollarsworth of bitcoin free. So what are
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see what I'm talking about. I'mGary Leland, the bitcoin boomer, and
thanks for joining me on another fourminute bitcoin show. This is a bit

(03:28):
block Boom dot com production