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.
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.
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.
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)|