China continues to control the lion’s share of the bitcoin hashrate. However, in the expert environment, some have already paid attention to factors signaling a gradual decrease in the influence of the Celestial Empire on the BTC network.
According to the co-founder of one of the largest mining pools F2Pool Chun Wang, already in April 2021 the share of the PRC accounted for less than half computing power generated by bitcoin miners.
Here at @f2pool_official, in April 2021, the first month in our 8 years of operation, we have seen more $ BTC hashrate coming from outside of China than from the inside. The shifting is real. https://t.co/nf2gBy62re
– Chun @ dogecoin.org (@BocaChicaDoge) May 3, 2021
For the first time in eight years, the Celestial Empire began to lose in competition with other countries where mining pools also operate.
Chun Wang cited data from Barry Silbert of Digital Currency Group. It follows from them that for the first time the American Foundry pool was in the list of the five largest miners around the world.
So far, AntPool, operated by the Chinese company Bitmain, remains the leading player. It accounts for 18.6% of the hashrate of the bitcoin network.
However, China’s influence is generally waning and computing power is shifting to North America, Silbert tweeted.
Oppression of miners in a number of Chinese provinces will further reduce the share of China in the BTC hash, the expert said.
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