Here's the new geography of the bitcoin mining industry
July 29, 2021, 3:58PM EDT · 6 min read
- Now that China has cracked down on bitcoin mining, a new era is dawning for the global mining industry.
- Mining firms outside of China are poised to capture much of the market share that Chinese miners have lost.
- We mapped out the new ecosystem and categorized the new players by capacity, planned capacity, location of their operations, and whether they are publicly listed or private.
A new era is dawning for the global bitcoin mining industry. After China dropped the hammer on local mining operations in June, roughly 90,000 petahashes per second (PH/s) of hash rate, or mining power— about 50% of the network — went offline. Mining firms with operations in China are now scrambling to sell their machines […]