While the U.S. has expanded its leading position as the dominant place for bitcoin mining, China has once again become the second largest place, despite the government’s ban on activities last year. From the report: According to a report from the Cambridge Center for Alternative Finance on Tuesday, between September 2021 and January, the United States accounted for 37.84% of the world’s hashrate, a measure of the computing power used to extract digital currency. The hashrate, which is also responsible for the security of the Bitcoin network, has returned strongly to new highs after falling last year.

After a ban on mining in China last year, the country saw a sudden surge in activity due to “covert mining operations” and “re-emerged as major mining”, capturing 21.11% of the world hashrate, according to the CCAF. “This is a strong indication that significant underground mining has developed in the country, which empirically confirms what industry insiders have long believed,” the CCAF said in a report. In May (2021), Beijing intensified its efforts to contain the cryptocurrency market. It seems that secret mining is still taking place in China through private virtual networks, which makes it seem that computers are operating in another country.

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