BITCOIN MADE IN CHINA
Did you know that China is the absolute leader in Bitcoin production? About 65% of global Bitcoin mining takes place in the Asian country, mainly in Xinjiang and Sichuan provinces, due to the low cost of their electricity.
Discover more details about cryptocurrency mining in China and its impact on the entire planet!
- Bitcoin mining by country
- Largest bitcoin mining pools in the world
- Regulation of cryptocurrencies in China
- How China dominated the market
- And much more!
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China concentrates 65% of global bitcoin mining
The cost to mine 1 bitcoin in China is between US$5000 and US$85000
Chinese men between 30 and 39 years old are the most interested in bitcoin in China
Annually, the mining process consumes more energy than the entire population of Argentina. Therefore, countries where electricity is cheaper attract cryptocurrency miners. In China, the energy consumed in mining is equivalent to Colombia’s annual consumption. In addition to cheap energy, skilled labor and access to advanced mining technologies at low prices also contributes to China’s leadership in this matter.
Although its mining is legalized in China, trading in cryptocurrencies is prohibited in the country, due to possible risks for the Chinese financial market, competition with digital currency, and currency controls.
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