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1/ Is Bitcoin mining making a comeback in China despite the ban? How did the U.S. state of Georgia overtake Texas as America’s Bitcoin mining hub? And what is happening with Bitcoin mining in Russia and Kazakhstan?
Time for a thread 🧵 👇
Time for a thread 🧵 👇
2/ As recently as May 2021, China was the uncontested global leader in Bitcoin mining, with over 65% of the global Bitcoin hashrate. 
3/ But that drastically changed the next month when China banned Bitcoin mining. In a matter of weeks, China’s share of global Bitcoin mining plummeted from 65% to 0%. Other countries, notably the U.S., took advantage of this and rapidly increased their share of global mining.
