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Who won the war between China and cryptocurrency mining? Bitcoin mining outside China On the surface, it looks like China has won the war, with 0% of Bitcoin’s hashrate being allocated there, but it’s much more complex than that. In fact, this was a complete renunciation, despite the huge profits that cryptocurrency mining was able to generate for Chinese miners. The Chinese state collected a part of those profits, without doing anything, in the form of taxes, levies and surcharges, so the renunciation was certainly not painless. But why has China actually given up mining cryptocurrencies, despite being the single...
