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10 May 2021

Report: Chinese Officials Are Examining Bitcoin Energy Use

Report: Chinese Officials Are Examining Bitcoin Energy Use


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Although the report refers to cryptocurrency at large, it is well known that China-based companies contribute the majority of bitcoin mining hash rate, controlling over 70% of the network’s total hash rate and consuming a significant amount of energy, according tothis map from the Cambridge Bitcoin Electricity Consumption Index.

With so many adverse events happening in the Chinese bitcoin mining industry, it begs the question of whether the country will maintain its hash rate domination.

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