China Dominates 54% of Global Bitcoin Mining Hashrate, Sparking Centralization Concerns

China Controls 54% of Bitcoin Mining Pool Hashrate

According to Cryptopolitan, China has significant influence over the global Bitcoin mining industry, controlling approximately 54% of the total hash rate. This dominance raises concerns about centralization and potential vulnerabilities within the cryptocurrency network.

The article highlights that despite regulatory crackdowns on cryptocurrencies in China, miners continue to operate extensively within its borders. The concentration of such a large portion of mining power in one country could have implications for both market stability and security.

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Article Summary

China controls about 54% of the global Bitcoin mining hash rate, raising concerns over centralization and potential vulnerabilities in the cryptocurrency network. Despite regulatory crackdowns, extensive mining operations persist within China’s borders.