Business News Asia
For Bitcoin, the hash rate is a crucial parameter in terms of the network’s security. The hash rate dropped sharply for a short time after China banned Bitcoin mining in 2021, but this quickly recovered once miners shifted to other countries.
In 2022, the USA will remain the most important mining country for Bitcoin. In terms of hash rate, the U.S. accounts for over 30% of global mining. The trend is still rising.
In August 2021, Kazakhstan, which experienced a veritable influx of Bitcoin miners after the Chinese ban, was still in second place. However, after the popular uprising caused the government to shut down the internet in the country, the mining hash rate in Kazakhstan dropped.
This is followed by Russia and Canada before the hash rate is spread across many other countries.