Sunday, October 17, 2021

China’s Share Of Global Bitcoin Falls To Zero



Research by the Cambridge Bitcoin Electricity Consumption Index (CBECI) has revealed that China’s share of global Bitcoin mining has fallen to zero.

China had told banks to stop facilitating transactions in June and issued bans on mining.

At its peak in September 2019 China accounted for over three quarters of all Bitcoin mining and its crackdown initially led to a 38% fall in mining globally.

China has since declared all Bitcoin transactions illegal after the period covered by they Cambridge research.