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China Leads Bitcoin Mining with 55% Hashrate Despite Ban, Says CryptoQuant

The competition in Bitcoin mining has intensified, with China currently leading the race
By: DeepNewz • September 23, 2024
China Leads Bitcoin Mining with 55% Hashrate Despite Ban, Says CryptoQuant

The competition in Bitcoin mining has intensified, with China currently leading the race. Despite an official ban on cryptocurrency, Chinese mining pools maintain control over 55% of the Bitcoin hashrate, according to CryptoQuant CEO.

This centralization has raised concerns about the severity of China's dominance in the Bitcoin mining sector, which might be more significant than initial data suggested. U.S. mining companies are also increasing their hashrate dominance, but China remains at the forefront.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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