The United States is taking advantage of the ban on mining in China decreed last June to regain first place in the world ranking of Bitcoin producers, as evidenced by a study published on Wednesday, October 13.
As a reminder, mining is an energy-intensive process that allows the creation of Bitcoin. For this, powerful processors are used to guess the result of complex equations.
“The new data, which runs until the end of August, shows that the United States concentrates 35.4% of the activity against 16.8% at the end of April, followed by Kazakhstan with 18.1% (against 8.2% %) and Russia 11% (against 6.8%) ”, told Agence France-Presse Michel Rauchs, author of the Cambridge University study.
The creation of Bitcoin across the world accounts for 0.45% of global electricity production, according to Cambridge Bitcoin Electricity Consumption Index (CBCEI) estimates, which is the equivalent of a country like the Philippines.
CONSTANT PRACTICE IN CHINA
Worried about the considerable development of this decentralized technology on its territory, in competition with the digital yuan launched in March, China has decided to put an end to Bitcoin mining in the country, making the practice illegal at the end of September.
“The direct consequence of the Chinese government's action has been a worldwide drop of 38%” in the participation of miners in the Bitcoin network, according to Michel Rauchs.
Taking advantage of a more favorable environment in the United States for this practice, with cheaper energy sources, the majority of Chinese miners now do this activity on American soil.
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