China's share of bitcoin mining slumped even before Beijing crackdown, research shows Netscape Science


Source: netscape.com netscape.com

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By Tom Wilson Reuters LONDON, July 15 (Reuters) - China's share of global bitcoin production power fell sharply even before a recent crackdown by its authorities on cryptocurrency mining, research by the University of Cambridge showed on Thursday. China has long been the center of global cryptocurrency mining, an energy-intensive process. Many bitcoin miners in China use fossil fuels including coal, stoking concerns over bitcoin's environmental footprint. The country's share of the power of computers connected to the global bitcoin network, known as "hash rate," fell to 46% in April this year from 75.5% in September 2019, according to the...