🚨China Still Dominates Global B $BTC Mining Roots
Despite the relocation of miners worldwide, 55-65% of global $BTC mining still traces its roots back to China, according to an article by CryptoNews, citing Batyr Hydyrov, CEO of Uminers.
Chinese giants Bitmain, Canaan, and MicroBT who produce 99% of the world's ASIC mining hardware - have shifted operations to the U.S. to avoid Trump-era tariffs.
After China's mining ban, the U.S. share of Bitcoin's global hashrate soared from 4% in 2019 to 38% today.
While mining has moved offshore, China's capital, hardware production, and technical expertise remain central to the global Bitcoin mining ecosystem.