China’s illegal Bitcoin miners went off-grid. At the moment, China is recording 0% of the global BTC mining hash rate, as the US has become #1 in Bitcoin and Ethereum mining. It seems that China’s dominance over the market is over.
China Drove Miners Underground
Ever since July 2021, reports show that China’s dominance over cryptocurrency mining is over. There has been no activity in this industry ever since the country decided to ban cryptocurrencies.
This is the first time that China doesn’t have any place in the mining game. However, this could mean that China’s miners went away or underground.
Even though reports claim there’s no mining going on in the country, that still doesn’t mean anybody’s mining crypto.
However, chances are they’re changing their IP address to do so.
On the other hand, the US now plays a crucial role in cryptocurrency mining, as it holds the most significant percentage of Bitcoin miners globally. As a result, the total global hash rates are also getting back up in different locations across the globe.
Additionally, the US also leads in Ethereum GPU mining. This is also the reason gamers are having a hard time purchasing their favorite hardware. Chances are, they’ll have to wait for a while until the mining situation settles.