The share of Chinese miners in the bitcoin hash rate reached 66%

Miners based in China currently control two-thirds of the total processing power of the Bitcoin network. It is reported by Reuters , citing a fresh report by CoinShares.

In June, this value was 60%, reaching the highest level in December over the past two years, during which CoinShares tracks this data. According to the chief researcher of the company Christopher Bendixen, such superiority of Chinese miners may be due to a large number of farms or more advanced equipment for mining cryptocurrency.

“This gives an advantage to the Chinese mining industry. If you can increase your share in hashrate and get ahead of your competitors, then overall this is good , ”Bendixen said.

As the publication recalls, such major mining equipment manufacturers as Bitmain, MicroBT and Canaan are also based in China.

CoinShares representatives also noted that since June, the bitcoin hash rate has increased by 80%, which was partially possible due to the high profitability of this activity and more powerful equipment.

The graph below also shows that the first six largest pools (excluding the “unknown 25.3% of the network share) are the Chinese Poolin, F2Pool, BTC.com , Antpool, ViaBTC and BTC.Top

Recall, despite the harsh rhetoric of the Chinese authorities regarding cryptocurrencies, in November, the National Development and Reform Commission (NDRC) did not  include mining in the list of “undesirable industries” that are subject to ban.

Prior to this, to support the development of mining in China's Sichuan province, where, according to some sources, produced 70% of all Bitcoins, commented the former vice-president of the Commission of the China Securities Regulatory.