China owns now the majority of the Bitcoin mining power(techcrunch.com)
techcrunch.com
China owns now the majority of the Bitcoin mining power
https://techcrunch.com/2016/10/10/watch-trust-disrupted-bitcoin-and-the-blockchain-episode-two/
2 comments
This has been the case for quite a while. Most of the mining power and most of the actual trade happens in China; non-Chinese use is a sideshow.
Cheap power = profitable mining. Parts of China have very cheap power in comparison to the West.