Russia ranked third in the world in terms of mined Bitcoin in 2021, behind Kazakhstan and the United States, according to specialists from the University of Cambridge in the United Kingdom.
It’s worth noting that none of them made the top three in 2020. Everything happened after the Chinese government outlawed cryptocurrency mining in the country, prompting miners to flee to North America and Central Asia. That was the time when the hashrate distribution changed dramatically. First and foremost.
Today, the United States is in first place with 35.4%, while Kazakhstan has an 18.1% share. The Russian share of mined bitcoins reached 11,23 percent in August 2021. It has increased significantly since April 20, 2021 (6.8%). Following that are Canada (9.55%), Ireland (4.68%), Malaysia (4.59%), Germany (4.48%), and Iran (4.48%). (3.11 percent ).
Let’s have a look at the numbers from the last several years. China was leading in terms of Bitcoin mining volumes at the time, accounting for 66.86 percent of all mined tokens. Today’s figures are drastically different from what they were in 2020. Russia came in second with 8.17 percent, followed by Malaysia (6.23 percent), and Kazakhstan (6.23 percent) (4.57 percent ). In 2020, the United States ranked fifth with a 4,2 percent level.
When the Chinese government began to tighten limitations on persons working with cryptocurrencies in early 2021, followed by a complete ban in the nation, the global distribution of hashrate began to shift. These acts caused China’s mining industry to completely collapse, as Chinese miners began to migrate to North America and Central Asia in pursuit of better mining conditions. As a result, it pushed the United States to the top of the world’s bitcoin output in less than a month, and Kazakhstan to second place.
Related Posts – Ferrari joins the NFT universe through a collaboration with a Swiss…
