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28 July 2021

CBECI Report: China’s Hold Over Bitcoin Mining Was Waning Before The Crackdown

CBECI Report: China’s Hold Over Bitcoin Mining Was Waning Before The Crackdown


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China's Hold Over Bitcoin Mining Was Waning Before The Crackdown!

According tothe latest CBECIupdate, China’s control over Bitcoin mining was already waning.

The Cambridge Bitcoin Electricity Consumption Index shows that and much more, it “provides an up-to-date estimate of the Bitcoin network’s daily electricity load.” However, China is the headline.

According toArcane Research, CBECI numbers say that:?

It’s also very interesting that the CBECI shows that the United States and Kazakhstan were growing at a tremendous ratebeforethe ban.

TheCambridge Bitcoin Electricity Consumption Indexexplains the methodology they use:.

Given that the exact electricity consumption cannot be determined, the CBECI provides a hypothetical range consisting of a hypothetical lower bound  (floor) and a hypothetical  upper bound  (ceiling) estimate.

In light of this, China’s ban on Bitcoin mining could just be part of an even bigger play

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