University of Cambridge Bitcoin Mining Map Reveals China’s Hashrate Has Dropped To 46% – Bitcoin News
After the researchers of the Cambridge Bitcoin Electricity Consumption Index (CBECI) project stated that the website’s “Bitcoin Mining Map” had not been updated since April 2020, the map has now finally been updated. Current data from the mining map shows that coverage will last until April 2021, and the estimate of China’s dominance in hashrate is much lower than previous estimates.
New estimates show that China has less hashrate than previous statistics
The University of Cambridge data from the Cambridge Bitcoin Electricity Consumption Index (CBECI) shows that China has a much lower hashrate dominance than previously thought. On June 19, Bitcoin.com News reported on how difficult it was to gauge how much hashrate is actually in China.
In writing this specific report, the CBECI project stated on its website that the Bitcoin Mining Map has not been updated since April 2020. Additionally, in December 2020, Bitcoin.com News became News told back then the “CBECI card has not been updated for some time” by a researcher at the University of Cambridge.
Today that has changed and the CBECI card will have much more updated information until at least April 2021. This means that the CBECI card does not take into account the mass migration of Chinese bitcoin miners after the month of April.
However, the updated CBECI map shows that China’s hashrate dominance was around 46% in April. That number is much lower than the older pre-update estimate which was 65%. The USA takes 16.8% and Kazakhstan follows with 8.19% behind America, according to the CBECI statistic “Development of the country share”.
The University of Cambridge researchers use sample data from geolocated mining facilities and several Bitcoin mining pools. Partners contributing to the CBECI card include Poolin, Viabtc, Btc.com and Foundry.
The CBECI map also highlights “the evolution of the share of Chinese provinces” in another chart devoted to these statistics. The dominance of the Chinese provinces comes from areas such as Sichuan (16.4%), Xinjiang (54.4%), Yunnan (8.7%), Nei Mongol (3.7%), Gansu (1.3%) Zhejiang (0.2%), Beijing (4.8%), Qinghai (2.3%) and unknown regions (8.1%).
As for other countries besides China, the US, and Kazakhstan, the CBECI map shows that the Russian Federation has around 6.84% of the global hashrate. This is followed by unknown regions with 5.92%, Iran 4.64%, Malaysia 3.44%, Canada 3%, Germany 2.81% and Ireland 2.27%.
After the data was not updated for a long time, the CBECI research team found that updates are now “scheduled monthly and subject to the availability of the data (usually with a delay of one to three months).”
What do you think of the latest update on how much hashrate is in China? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, Cambridge Bitcoin Electricity Consumption Index (CBECI) mining maps,
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