China controls 66% of the world’s BTC hash rate
Employees of the CoinShares cryptocurrency center released a study according to which China controls 66% of the world’s Bitcoin network hashing capacity.
It is worth noting that 54% of the global hashing capacity is in Sichuan Province.
The four largest mining pools in the world are located in China – Poolin, F2Pool, BTC.com and AntPool – and they account for about 55% of bitcoin production.
The CoinShares employees said the following about the remaining third of the global hashrate:
We estimate that of the remaining 35% of the total number of miners, 31 percent is evenly distributed among Washington, New York, British Columbia, Quebec, Newfoundland and Labrador, Iceland, Norway, Sweden, the Siberian Federal District of Russia, Kazakhstan, Georgia and Iran.
At the same time, the vast majority of energy (73%) used for BTC production by global miners is clean electricity from renewable sources.
Over the past year, the speed of Bitcoin has increased dramatically, breaking record highs regularly. CoinShares noted that this is probably due to the development and production of more powerful mining chips.