China’s “mines” are shut down, Bitcoin is getting harder to come by

China’s “mines” are shut down, Bitcoin is getting harder to come by

Government of China Recently has been more and more aggressive on suppression of activities related to cryptocurrencies, including by banning their mining activities mining.

Last weekend, Sichuan authorities reportedly closed many crypto mines in the Sichuan province which is one of the centers mining Bitcoin in China. Miners in Xinjiang, and others had a similar fate.

Bitcoin Has Risen Again And Large Investors Will Continue To.jpg

 

In fact, these two areas contributes to largest computing power (hash rate) for the Bitcoin network. As a result, hash rate of Bitcoin has been significantly impacted globally.

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Cryptocurrency research firm TheBlock, mentioned that, during the past month (15 May – 23 June 2021) performance of Bitcoin hashrate has globally declined to 48.8% or from 167,756 PH/s to 83,933 PH/s .

That way, new Bitcoin chips will be even more difficult to get because the mining process or speed will be slower.

Specifically, TheBlock also explained that this decline did come from a number of platforms mining Bitcoin in China which has indeed experienced a decline over the past few months.

AntPool and F2Pool are touted as the two biggest mining (pool) platform of Bitcoins, for example, has suffered from a performance drop of hashrate which reached 58 percent and 56 percent in the past month.

Also read: Crypto Tracker & Bitcoin Price & Coin Stats Mod Apk

However, the mining platforms of USA Foundry and Rawpool has actually experienced hashrate increases of 15 percent (6,616 PH/s) and 6 percent (2,922 PH/s) respectively.

However, this figure has not been able to increase hashrate capacity of Bitcoins globally. This is because the capacity of the two is not as much as AntPool and F2Pool which are currently at 11,617 PH/s and 11,145 PH/s.

For more details, here is a list of Bitcoin mining platforms with most declining of hashrate:

Hashrate per 15 May (PH / s) Hashrate per 23 Juni (PH/s) Change (percent)
AntPool 27.863 11.617 -58
F2Pool 25.547 11.145 -56
Poolin 23.114 11.790 -49
BTC.com 17.869 10.190 -43
Binance Pool 16.629 9.426 -43
ViaBTC 14.934 12.059 -19
Huobi Pool 11.753 2.169 -82
1THash 7.006 218 97
Foundry USA 5.766 6.616 15
Slush Pool 4.946 4.650 -6
BTC.TOP 4.259 256 -94
Rawpool 2.756 2.922 6
SBI Crypto 2.139 726 -66
EMCD 1.686 1.585 -6
OKEx Pool 1.490 564 -62
Total 167.756 85.933 -48,8

 

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