Chinese Miners Migrate to Nordic Regions, Mining Exec Says Hashrate Migration One of the âBiggest Developmentsâ
China has the largest concentration of bitcoin miners worldwide with estimates noting the country captures anywhere between 50-65% of the global hashrate. Xinjiang, the autonomous region of the People’s Republic of China, ostensibly accommodates 35% of the hashrate. This week a regional report from China and statements from the head of operations at Genesis Mining, indicate that Chinese miners are migrating from the area to Nordic countries like Sweden and Norway.
Just recently, news.Bitcoin.com, reported on the electrical issues in China that bitcoin miners in the country are currently dealing with due to the shortage of coal. In the report, it noted that the Cambridge Bitcoin Electricity Consumption Index (CBECI) map shows China still commands 65% of the hashrate today. However, a team member from the Cambridge Centre for Alternative Fina