A team from Cambridge University has released a tool that tracks the countries with the highest Bitcoin mining activity.
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The new tool was developed by the Cambridge Center for Alternative Finance (CCAF). It is a map on which the countries with the highest share of the monthly bitcoin network hash are visible. In China, the data is broken down by province.
According to the map, China accounts for 65% of the total bitcoin hash. In the US and Russia, this figure is 7%.
It took a year to create the tool. Data is downloaded from three mining pools BTC.com, Poolin, and ViaBTC. Apolline Blandin, head of the cryptocurrency and blockchain division at CCAF, noted that the card now covers approximately 37% of the total global hash rate. Data collection problems are observed in North America and Europe.
Data collection is complicated by the fact that many miners use a VPN to hide IP addresses. The problem is especially acute in the Chinese province of Zhejiang. To smooth out the inaccuracy, the developers divided the hash rate of this region among other provinces.
In the future, the team plans to connect data collection from other pools and individual farms. This will increase the accuracy of the tool and expand its capabilities.