Small toy figurines seen on representations of the cryptocurrency bitcoin in front of an image of China’s flag in this illustration picture on April 9, 2019. Photo: Reuters
China may have massive underground bitcoin mining operations despite ban last year, Cambridge data shows
- China accounted for roughly a fifth of the bitcoin network’s hash rate at the end of 2021, after data showed it dropped to zero in July
- Data from the Cambridge Bitcoin Electricity Consumption Index suggests miners covered their tracks with overseas proxies until they deemed it safe
Small toy figurines seen on representations of the cryptocurrency bitcoin in front of an image of China’s flag in this illustration picture on April 9, 2019. Photo: Reuters
