China Strikes Down 10% of Global BTC Hashrate, Who Will Pick Up The Slack? By Cointelegraph


China Strikes Down 10% of Global BTC Hashrate, Who Will Pick Up The Slack?

The government of China’s Sichuan province moves to stamp out (BTC) mining activity, citing that growing cryptocurrency prices have led to the escalation of illegal activity under the guise of mining.

According to estimates from Cambridge University, Sichuan is responsible for almost 10% of the global hashrate. In fact, this single Chinese province mines more Bitcoins than the entirety of the U.S. or Russia.

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