China Loses Grip on BTC Mining, Kazakhstan Rises Up the Ranks

The Chinese crackdown on crypto mining had a drastic impact on the Bitcoin network’s hashrate input. A recent study conducted by Cambridge Centre for Alternative Finance (CCAF) highlighted that China started seeing a drop in Bitcoin mining share even before the recent crackdown began. As per data, the mining share of China had already fallen by nearly 30% in April, before the real crackdown and shut down of large mining farms began in May.