20 sats \ 4 replies \ @grayruby 24 Sep \ on: The Daily Zap — Latest News and Updates alter_native
I am skeptical of this stat that China has 55% of the hashrate. Article states 55% for China and 40% for US. So the rest of the entire world has only 5%. No way.
Can be true!
Where else do you see mining happening at a large scale?
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I don't know much about Canada but kazahakstan and Russia aren't even mining 1% now. Kazhakstan have cracked down on mining firms in 2022 and I don't think that underground miners can mine Bitcoin efficiently in Russia.
Yes, but I agree that China 50% is little exaggerated but 20% would be underestimation.
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You seem to be correct in regards to Kazhakstan. They did do a major crackdown. Likely all that hashrate went to China so it is plausible. It just seems hard to believe the entire rest of the world is only 5% though. We know nation states are mining. There are rumours of massive mining operations in the middle east where they are harnessing solar and building the mining farms underground and using immersion cooling. They were certainly working on that, whether it has come on line or not is debatable. Hash rate has been climbing while price has been flat so someone somewhere is mining with very cheap energy or really wants to accumulate Bitcoin quietly and isn't concerned if a mining operation is highly profitable or not.
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