Bitcoin Mining Shifting from China to Europe and the US: How will this influence decentralization? By DailyCoin – Investing.com

Bitcoin Mining Shifting from China to Europe and the US: How will this influence decentralization? By DailyCoin – Investing.com

Mining is Leaving China

The new Chinese regulatory measures target financial institutions as well as mining operations. Prime minister Liu stated that China would “clamp down on bitcoin mining and trading activity” to preserve financial integrity and stability in the country. The crackdown on mining has significantly impacted Chinese mining operations, which account for over 75% of the global bitcoin hash rate.