The once world's largest Bitcoin mining country, China, is getting back at it again, but this time, more covertly.
The once world’s largest Bitcoin mining country, China, is getting back at it again, but this time, more covertly.
The reported mining hash rate for the entire country effectively went to zero during the months of July and August, as per the Cambridge Bitcoin Electricity Consumption Index . The swift recovery in China’s mining activity can be attributed to miners concealing their location by leveraging virtual private networks or other proxy services. The study also argued that as time passed, Chinese underground miners have become more confident with the protection offered by local proxy services to cover their tracks.The global Bitcoin mining landscape has transformed significantly after China’s ban. The US, for one, has continued to cement itself as the leader by a wide margin.
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