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Don’t Trust Bitcoin Mining Data From China

China has “re-emerged” as a major bitcoin mining hub in 2022, representing greater than 20% of the Bitcoin community’s hash price, in accordance to 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 effectively dropped to zero.”

So, what brought about this purported huge whiplash in mining exercise from a CCAF-reported high of 75% in September 2019, to 0%, and now again to 20%? Since July 2021, Bitcoin’s hash price has grown at a gradual tempo, paring its losses from China’s unique ban and persevering with to set record highs in latest months. But what occurred in China? And is the brand new CCAF information an correct illustration of the state of bitcoin mining?


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