Report: Bitcoin miners in China control two-thirds of processing power in crypto networks

Research on December 11 showed that China's bitcoin miners now control two-thirds of the processing capacity of the crypto network, and the increase in share may benefit the country's miners. According to a report from digital asset management company CoinShares, Chinese miners control 66% of the world's "hash", a measure of the capabilities of computers connected to the Bitcoin network, which determines their ability to produce new coins. Since 60% of China ’s share in June, China ’s hash rate share is CoinShares ’highest record since tracking the hash rate two years ago. Chris Bendkisen, the company's director of research, said that this may be due to more deployment of more advanced mining equipment.