Despite the ban: China surprises with high mining activity
While bitcoin mining is enjoying brisk activity around the world, the People's Republic of China recently moved to outlaw mining activities.Bad Salzdetfurth, )
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However, the latest figures from the University of Cambridge’s Mining Map now show that China still has a large share in Bitcoin mining. You can find out how this is possible in this blog article.
Mining ban in China
The Middle Kingdom is known for its radical politics, which likes to disregard the needs of its own citizens and ban things overnight. Bitcoin mining was also affected by dictatorial measures not too long ago, which the ruling party was supposed to completely stop and was forbidden by law. With this declaration of illegality, the Chinese rulers most likely wanted to prevent individual citizens from being able to enrich themselves without their help. In fact, Bitcoin mining was popular in China and operated in many parts of the country. After the measure was decided, countries such as Kazakhstan and Russia, but also the USA, benefited from the mining exodus. This effect was clearly visible on the University of Cambridge's Mining Map, a project to visualize the percentage of computing power in the Bitcoin network worldwide.
Crypto Mining Still Strong
However, the latest data from the same map now shows just as clearly that a considerable part of the computing power (21% of the total hash rate) is still provided by China. The reason for this could be that Chinese crypto miners are not willing to just let the butter be taken off their bread and are now starting to get creative when it comes to continuing and covering up their mining activities. Presumably, among other things, the fact that hydroelectric power plants also have to be connected to data networks is used to cover up the mining activities. Home mining is also still a big trend and restrictive corona lockdowns by the government, such as currently in Shanghai, favor the irrepressible will of the miners, true to the motto "now more than ever", in the quiet little room.Presumably, politicians are currently busy regulating other things in the country than pursuing illegal mining activities, where there are smarter heads at the other end of the computer anyway.
True Bitcoin followers are not easily dissuaded from such an interesting undertaking as mining the coin and would like to continue to do their part in the future.Ultimately, this incident from Southeast Asia is another proof of the unstoppable nature of cryptocurrencies and their entire development. By the way, if you want to operate bitcoin mining a little less cumbersome and less in secret, you will find the right products with us.