Cambridge University research published on July 15 by the Cambridge Centre for Alternative Finance showed that China’s share of global bitcoin mining plunged to 46%, down from 75.5% in September 2019.
This boosted Kazakhstan to third largest player in the bitcoin mining industry amid multiple firms fleeing to Kazakhstan from the Chinese government’s crackdowns on cryptocurrency mining.
Kazakhstan saw a nearly sixfold increase in its share of global bitcoin mining in the same period, rising to 8.2% from 1.4%, while the US rose to 16.8% from 4.1% to take the second top spot. Russia and Iran stood as the fourth- and fifth-largest bitcoin mining countries, respectively.
Related Articles
OPEC+ completes voluntary cut rollback with September hike
OPEC+ agreed on August 2 to raise output by around 188,000 barrels per day (bpd) from September, completing the unwinding of voluntary cuts first agreed in 2023. The decision, taken at a virtual ... more
S&P upgrades ratings of Freedom subsidiaries to ‘BB-’
S&P Global Ratings has upgraded the credit ratings of several subsidiaries of Nasdaq-listed Freedom Holding, raising ratings on Freedom Finance, Freedom Finance Europe, Freedom Finance Global and ... more
Kazakhstan’s Freedom fintech sets out to emulate and exceed Revolut in Europe
Freedom Holding Corp (Nasdaq: FRHC) is positioning itself to expand deeper into Europe’s financial services market with plans to launch a digital bank in France, backed by a €500mn ($572mn) ... more