Data Behind The Bitcoin Mining Renaissance

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Q3 2021 is in the books, and beginning as it did with China’s Bitcoin mining ban as its backdrop, it marked perhaps the most historic shift in Bitcoin’s mining market to date. Since the beginning of the ASIC era, it was the first quarter on record when Chinese miners, typically representing anywhere from 50% to 60% of the market, were no longer heavyweight contenders on the global playing field.

In the fallout of China’s ban, we are witnessing an unprecedented restructuring of hash rate across the globe (with the United States being the largest beneficiary so far), as well as a surge in interest in the mining industry from newcomers and seasoned bitcoiners alike.

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