Miners from China control more than half of the BTC mining market

As the founder of CryptoQuant emphasized, mining pools in China are still operating despite the fact that their activities are officially banned. The authorities simply try not to publicize the information that they continue to mine cryptocurrencies.

Recall that formally the work of pools for mining bitcoins in the PRC is prohibited since the fall of 2021. Then the authorities announced that the violation of the law will be punishable by fines and other sanctions. However, this did not scare the mining companies, and they are still mining digital coins.

In general, experts negatively assessed the fact of the ban on mining in China, as it caused many companies to move to the United States, which allowed them to take second place. Ki Yang Zhu added that the remaining share of the bitcoin mining industry belongs to the US, which is about 40%.