China front: 66% of the global Hashrate come from the middle Kingdom

Since the end of 2019 approaches, has Coinshares Research published its semi-annual mining report that contains informative research and observations about the Bitcoin Mining industry. Since the last report of Coinshare in June, the Hashrate of BTC has risen by 50 Exahash per second (EH/s), and the company believes that China has the largest share of the global Hasrate.

With crypto-market prices that are seemingly in a slump, one would think that the BTC would slow down the Miner. This is not been in this year, however, the case, and despite the turbulent markets, the Hashrate of BTC has risen sharply. 12. December Coinshares Research revealed some new statistics about the current state of the Bitcoin mining and much has changed since the last report. By all Consensus, the Proof-of-Work (PoW)-Miner from BTC-dominated expenditure, both the Security as well as the total revenue. In addition, the computing power of the network since the last semi-annual Mining report of the company is increased by 50EH/s.

Since our last report in June 2019, has doubled the Hashhrate almost, from about 50 U/s to nearly 90 EH/s, with a peak of more than 100 EH/s,

so Coinshares‘ report.

In this period, the hash rate grew slightly slower than the 5-year average – a period of time, which corresponds roughly to the beginning of the industrial Era“ the Bitcoin-mining – but much faster than the previous two 6-month periods.

The Bitcoin Mining Trends Research notes that the increase in the Hashhrate on a combination of stronger BTC prices since the lows of of $3,000 is due to the brand, and Bitcoin miners of the next Generation. Coinshares says that the Microbt, Bitmain, Canaan and Ebang produced mining producing plants of the next Generation of “up to five times the Hashrate per unit than their generation predecessor”. Between November 2018 and June 2019 it came in Coinshares Research to the transfer of capital and bankruptcies in the mining industry, but in the last two quarters, there was an “Expansion”.

What we have seen is the shift from Hardware of the previous Generation in Iran and the establishment of Kazakhstan as an important mining region,

the study emphasized. With prices on the upswing, Bitcoin miners of the next Generation and new mining areas Coinshares still sees a lot of mining in China.

We have reason to believe that the lion’s share of the newly installed Hardware is predominantly installed in China.

shows the study of the company. Regardless of the reasons, the effect is that the current Chinese Hash Ratio is likely to be higher than in June 2019. Although we believe that this ratio will decline again, since the Hardware of the latest Generation penetrates further into the Chinese market, but at the present time, up to 66 % of Bitcoin are-Hashpower in China – the highest value we have seen since the beginning of our network monitoring by the end of 2017.

According to Coinshares the remaining 35% of BTC-Miner come from regions such as Washington, New York, British Columbia, Alberta, Quebec, Newfoundland and Labrador, Iceland, Norway, Sweden, the Siberian Federal district of Russia, Kazakhstan, Georgia and Iran.
Mining Report shows that 65% of the Hashpower of Bitcoin comes from China. In the last report of Coinshares, it was found that 74% of the world’s Bitcoin Mining operations are focused on renewable energies, and the data since then have hardly changed. The new estimate of the researchers for the industry-wide proliferation of renewable energies is now at 73%. Coinshares assumes that it depends on the location, but certain regions, such as New York State and Texas, the use of renewable energies.

The 15-page report shows that there were in the second half of the year, a substantial growth of Bitcoin Mining. In addition, powerful Miner have increased the Total hash rate of the network even further.

The Hardware efficiency continues to increase in line with the 5-year Trend – an exponential increase of the efficiency increases roughly every four years by an order of magnitude (“does a 10x”)

according to the study. The report of Coinshares comes to the conclusion that BTC Mining occurs as a “global power buyer of last choice”, which is why the industry is “grouped tends to be a relatively little-used infrastructure for renewable energies”.