China owns now the majority of the Bitcoin mining power (opens in new tab)

(techcrunch.com)

4 pointsthecourier9y ago2 comments

2 comments

This has been the case for quite a while. Most of the mining power and most of the actual trade happens in China; non-Chinese use is a sideshow.

Cheap power = profitable mining. Parts of China have very cheap power in comparison to the West.

j / k navigate · click thread line to collapse

(techcrunch.com)

4 pointsthecourier9y ago2 comments

This has been the case for quite a while. Most of the mining power and most of the actual trade happens in China; non-Chinese use is a sideshow.

Cheap power = profitable mining. Parts of China have very cheap power in comparison to the West.

j / k navigate · click thread line to collapse