Despite China’s ongoing ban on cryptocurrency trading and mining, the country continues to dominate the Bitcoin network, controlling 55% of the global hashrate, according to data shared by Ki Young Ju, CEO of CryptoQuant.
What Happened: This information is corroborated by Bitbo‘s mining data, which shows China’s sustained influence over Bitcoin (CRYPTO: BTC) mining pools.
In contrast, U.S.-based mining companies manage approximately 40% of the global Bitcoin hashrate, signaling a significant but still smaller share of the market.
Ju’s tweet highlighted the growing presence of U.S. mining pools, which primarily cater to large-scale institutional miners across North …
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