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Finding out what the bitcoin hashrate is in Mainland China is still a mystery – Mining Bitcoin News


Over the past few weeks, there have been several reports about crackdowns involving bitcoin mining operations in various provinces in China. The 30-day data shows that the hash rate has fluctuated wildly, with a drop of nearly 26% over the past week.

Report shows bitcoin mining crackdown in five Chinese provinces

Despite the slide, the top three mining pools in the world, which today represent about 41% of the hash rate, are considered Chinese mining pools. This does not mean that mining pools actually host physical bitcoin mining facilities in mainland China, however.

How much hash rate lives in China is a million dollar question these days. Especially after Beijing’s crackdown on the mining industry and the following sanctions in several provinces.

Figuring out how much bitcoin hashrate resides in mainland China is still a mystery.
Five provinces in China have banned bitcoin mining.

Mandates first appeared in Inner Mongolia, as reports Came out during the first week of March 2021. Then on June 9, 2021, a report revealed that there were specific bitcoin miners in Xinjiang. instructed to close.

one more mandate Have you seen For crypto miners in Qinghai Province. After Qinghai Province, the authorities in Yunnan Broke Also on bitcoin mining operations in that area.

Figuring out how much bitcoin hashrate resides in mainland China is still a mystery.
bitcoin (B T c) hash rate as of June 19, 2021, according to 30-day data.

Then, while everyone was waiting to hear about Sichuan, following 31st May report The one who informed the public that a meeting was taking place finally got the news. officials in sichuan notice sent Bitcoin miners in the province to shut down by June 25.

Defects found in existing hashrate reference maps and estimates

The hashrate chart over the past seven days shows that the bitcoin network hashrate has slipped and is currently hovering a hair above the 100 exhash per second (EH/s) area. The point is, no one is quite sure how much hash rate resides in China, and how many operations are forced to migrate.

Figuring out how much bitcoin hashrate resides in mainland China is still a mystery.
The Cambridge Center for Alternative Finance Index Map is otherwise referred to as the CBECI. The CBECI map has not been updated since April 2020.

Several mainstream reports pointed to the Cambridge Center for Alternative Finance Index Map, otherwise known as the CBECI. beyond belief CBSE Map Not updated since April 2020 and the map shows 65% hash rate in China.

Figuring out how much bitcoin hashrate resides in mainland China is still a mystery.
The Cambridge Center for Alternative Finance Index Map is otherwise referred to as the CBECI. The CBECI map has not been updated since April 2020.

The estimation also has significant limitations in the CBECI data, as it aggregates data from only three large pools and “aggregate geo-location data based on the IP addresses of hashers connecting to the mining pools.” cambridge forward notes That “hashers in some locations use virtual private networks (VPNs) or proxy services to disguise their IP address and thus location.”

In addition, at any given time, a large number of stealth miners are known to have dedicated hashrate. B T c Network. These stealth miners, otherwise dubbed as “unknowns” in the hash distribution pie chart, make about 6% The network’s hash rate for this weekend. Sometimes, over the years, mystery miners have collected more than 20% of the hash rate.

Web portal Digiconomist.net Similar, as it shows an unreliable chart with hashrate shares of the bitcoin network, but this too has not been updated since April 2020. In China, Digikonomist.net’s survey shows operations in Beijing, Nei Mongol, Guangdong, Qinghai, Yunnan, Sichuan. , Shanxi, Guizhou, Gansu, Ningxia, Shaanxi, Zhejiang and Hebei.

Figuring out how much bitcoin hashrate remains in mainland China is still a mystery.
The hashrate share of web portal digiconomist.net as per country chart has not been updated since April 2020.

there is also one published studies From Coinshares, which highlighted that 74% of the world’s bitcoin mining operations in 2019 were powered by renewable energy in-depth report It surveys several mining locations around the world and includes a map.

Figuring out how much bitcoin hashrate resides in mainland China is still a mystery.
A CoinShares map published in the Bitcoin Mining Report in 2019.

The CoinShares map is fairly basic but suggests the general idea that there is a large proportion of miners in China, and Sichuan in particular. We still don’t have an up-to-date percentage of how many miners are located in China between the CBECI map, the digiconomist.net chart, and the Coinshares report.

However, there is a recent report Published by Bituda with the support of asset manager Fidelity Investments, as of July 15, 2020, reduces China’s hash rate by 50% from previous estimates.

Figuring out how much bitcoin hashrate resides in mainland China is still a mystery.
The most recent geographic study on the hash rate space stems from the Bituda Report backed by Fidelity Investments. The Bituda report published in July 2020 shows that China’s hash rate percentage is only 50%. This figure g. showsGeographical distribution of the surveyed mining capacity against the estimated 9.6GW total capacity.

apart from this, misconceptions about Digiconomist.net has been found to be underpinning the data. In 2018, another Coinshares’ Study was criticized for Digiconomist’s BECI and noted that there was a large discrepancy with respect to the total energy consumption data.

Figuring out how much bitcoin hashrate resides in mainland China is still a mystery.
This Bituda-produced pie chart shows the geographic distribution of the surveyed mining capacity versus the estimated 9.6GW of total capacity. Bituda Report published on July 15, 2020.

hashrate distribution and ostensible HQ

Finally, the public has access to data on hashrate distributions by pool names. The top five major mining pools today are Antpool, YBTC, F2Pool, BTC.com and Poolin. In terms of hash rate, the bottom of the pool is Binance Pool, an unknown entity, and Foundry USA, respectively.

Figuring out how much bitcoin hashrate resides in mainland China is still a mystery.
Three-day hash rate distribution for bitcoin (B T c) blockchain on June 19, 2021, according to Btc.com statistics.

Measuring data this way is flawed because not all pools are difficult operations, as many pools are a mix of hashpower from physical facilities and miners around the world pooling computing power with the pool. There is no known location for Binance Pool and Poolin says its operations are headquartered in Hong Kong.

Figuring out how much bitcoin hashrate resides in mainland China is still a mystery.
The annual hash rate distribution for bitcoin (B T c) blockchain on June 19, 2021, according to Btc.com statistics. Mining pool Antpool (top, blue) has seen a 60% increase in hashpower over the past 12 months.

Poolin’s website details that it has offices in Beijing, Chengdu and Changsha, China. Bitmain’s Antpool says it is headquartered in China, and records from Viabtc and F2pool (formally known as Discus Fish) also show its headquarters in China.

Records from Btc.com indicate that the mining company is headquartered in Amsterdam. Roughly 41% of hashrate can be assumed to come from the Chinese pool, but we cannot be sure how much of this hashpower actually stems from mainland China.

As stated earlier, Chinese bitcoin mining pools are not necessarily located in China. The fact is, finding out how much of a bitcoin hashrate remains in mainland China is still an enigma. See the follow-up to this comprehensive report covering the entire landscape of bitcoin hashrate distribution over the past 12 years.

What do you think about the geographical location of the miners? What do you think is the hash rate in China? Let us know what you think about this topic in the comment section below.

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image credit: Shutterstock, Pixabay, WikiCommons, Bituda, Fidelity, CoinShares, CBECI, BTC.com, Digiconomist.net, Coinwarz,

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