As of January 2022, Chinese crypto mining activities accounted for around 21 percent of the global hash rate. In the cryptocurrency industry, the hash rate describes how many calculations can be performed per second. From the chart, it becomes obvious that mining operations were seized in July and August of 2021 after the Chinese government announced its ban on cryptocurrencies. However, after two months of keeping a low profile, Chinese miners resumed their operations.
Average monthly share of the hashrate in China from September 2019 to January 2022
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Cambridge Centre for Alternative Finance. (February 21, 2023). Average monthly share of the hashrate in China from September 2019 to January 2022 [Graph]. In Statista. Retrieved December 26, 2024, from https://www.statista.com/statistics/1367905/china-average-monthly-hashrate-share/
Cambridge Centre for Alternative Finance. "Average monthly share of the hashrate in China from September 2019 to January 2022." Chart. February 21, 2023. Statista. Accessed December 26, 2024. https://www.statista.com/statistics/1367905/china-average-monthly-hashrate-share/
Cambridge Centre for Alternative Finance. (2023). Average monthly share of the hashrate in China from September 2019 to January 2022. Statista. Statista Inc.. Accessed: December 26, 2024. https://www.statista.com/statistics/1367905/china-average-monthly-hashrate-share/
Cambridge Centre for Alternative Finance. "Average Monthly Share of The Hashrate in China from September 2019 to January 2022." Statista, Statista Inc., 21 Feb 2023, https://www.statista.com/statistics/1367905/china-average-monthly-hashrate-share/
Cambridge Centre for Alternative Finance, Average monthly share of the hashrate in China from September 2019 to January 2022 Statista, https://www.statista.com/statistics/1367905/china-average-monthly-hashrate-share/ (last visited December 26, 2024)
Average monthly share of the hashrate in China from September 2019 to January 2022 [Graph], Cambridge Centre for Alternative Finance, February 21, 2023. [Online]. Available: https://www.statista.com/statistics/1367905/china-average-monthly-hashrate-share/
