Bitcoin mining in China reaches 21% worldwide

Greetings to all my dear readers, I have fresh news about mining in China, apparently China is again at the top of the "hash rate" in cryptocurrency mining, to be more precise in Bitcoin and Etherium, more than 1 year ago China announced the ban on mining of cryptocurrencies in the Asian giant, denounced by electricity consumption, a source that came from people who were completely ignorant of the matter, both mining and electrical services.

Dibujo hecho por: @rubenp

What happened? How has China returned to the top of cryptocurrency mining?

One of the main reasons is that in China many electric companies depended on the electric consumption of mining to keep their plants active since in some specific cases mining is part of 80% to 99% of the electric consumption of those stations.

During the prohibition period these stations were left without consumption, causing losses in the electricity sector. It is not known if the prohibition was really lifted in China, as the nation is quite secretive on these issues, but the data speaks for itself.

At this moment China has the Hash Rate in Bitcoins of 21. 00 % in the world, reaching and surpassing any other nation, some think that it is clandestine mining which has reached these levels in China, assuming that the ban had no effect on the country, but I am of the opinion that being at the head of Bitcoin mining in the world is not achieved so easily so there should be a kind of consensus between the Chinese government, and the main Bitcoin miners in the country, taking into account that even the electricity service was affected by the drop in consumption.

Something that seems to me at the same time a little laughable since in other nations including mine the electricity problem is rather generation while in China is lack of consumption, of course this should not be the same everywhere China is a huge country.

Reference:

Hardzone.es