New data shows how bitcoin mining in China is falling behind the Chinese government’s measures.
A study by the Cambridge Center for Alternative Finance (CCAF) found that bitcoin mining in China fell from 75.5% of the global market in September 2019 to 46% in April this year.
Kazakhstan is already the third country in the world in terms of weight in bitcoin mining. Diggers make money creating new bitcoins but the energy they use is in high quantities.
On the whole bitcoin mining requires great computing power and as a result high amounts of electricity contributing significantly to the increase in emissions.
In June, Chinese authorities cracked down on Bitcoin. They asked banks to block bitcoin payment platforms causing the price of the latter to drop significantly.
Kazakhstan, a country rich in hydrocarbons, saw a 6-fold increase in excavation from 1.4% in September 2019 to 8.2% in April 2021.
In this country 87% of energy is produced through hydrocarbons and 70% of which only with coal. It is already the third country in the world to dig bitcoin after the US. / PCWorld Albanian