Report: Chinese Bitcoin miners control two-thirds of global computing power, 54% of which is in Sichuan

According to the Planet Daily, CoinShares research shows that Chinese Bitcoin miners now control two-thirds of the processing power (i.e. computing power) of the Bitcoin network, and Bitcoin miners in Sichuan account for 54% of the global computing power. This is the highest value recorded by CoinShares since China's share reached 60% in June. "Of the remaining 35% of global miners, we estimate that 31% of global computing power production is evenly distributed in Washington, New York, British Columbia, Alberta, Quebec, Newfoundland and Labrador, Iceland, Norway, Sweden, the Siberian Federal District of Russia, Kazakhstan, Georgia and Iran." According to reports, the vast majority of energy used by Bitcoin miners is renewable. The company expects that as mining machine chips produced by Chinese companies such as Bitmain become easier to export, Bitcoin computing power will be more evenly distributed around the world. (TNW)