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Squeeze on Bitcoin: China Province Sets Up Hotline to Tattle on Crypto Miners [u]
May 21, 2021 @ 11:04 am By JD Alois
Multiple reports are indicating that China continues to put the squeeze on cryptocurrency. Long ago, China officially halted crypto trading but the country has long been home to many crypto miners. In fact, according to the
Cambridge Centre of Alternative Finance (CCAF)
Bitcoin Mining Map, China controls a whopping 65% of Bitcoin mining as of April. Earlier this year, China accounted for over 70% of Bitcoin mining. The United States is a distant second at just 7.24%.
CCAF notes that Bitcoin mining utilizes about 123.77 TWh per year – about the same amount as the country of Norway.