It is known that Bitcoin is based on the Proof of Work “PoW” mechanism, through which a group of miners authenticate transactions on the network in exchange for Bitcoin rewards.

The locations of these minerals differ from one region to another. Recently, the Cambridge Center for Alternative Finance (CCAF), a research institute at the University of Cambridge Business School in the United Kingdom, launched interactive map The average monthly Bitcoin hash rate by different countries is shown on the world map chart.

interactive # bitcoin Live Mining Map – Using data from three mining pools, the map depicts the average monthly share of # bitcoin Segmentation by country. watch it in pic.twitter.com/ZGvD0CJnbS

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– CambridgeAltFin CJBS (CambridgeAltFin) May 6, 2020

As stated by the institute responsible for launching the interactive map:

This is the first time that this data has been made available and displayed interactively.

The institute said that the map serves to provide increased transparency and a reliable picture of digital currencies that can benefit investors, policy makers, decision makers, academic researchers, and the general public.

According to the map, the lion’s share of bitcoin mining activity is concentrated in China, which has more than 65% of the world’s bitcoin hash rate.

The United States ranks second with 7.24%, followed by Russia and Kazakhstan with 6.90% and 6.17%, respectively.

While Malaysia (4.33%) and Iran (3.82%) rank fifth and sixth, respectively, the contributions of all other countries to Bitcoin mining are less than 1%.

The researchers note that the new map presented is based on the geolocation data (i.e. IP addresses) of hashes associated with large Bitcoin mining pools such as:

BTC.com, Poolin and ViaBTC.

and who agreed to share data at the institute level.

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Together, these three pools account for approximately 37% of the total Bitcoin hash rate during the period in which the data was analyzed, which took place in September 2019.

The researchers plan to adjust prior periods when additional data becomes available.

The Bitcoin mining map is part of the index CBECI — which is an indicator that attempts to provide a real-time estimate of the total annual electricity usage of the Bitcoin network, which was launched by CCAF last summer.

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I have “BitnodesIndeed a map of bitcoin mining, but it shows the number of bitcoin nodes around the world, rather than how much hash rate it represents.

In conclusion, it is possible that the upcoming Bitcoin mining reward split on May 12th will change the geographical concentration of mining activity.

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After Bitcoin’s Rise… Old Mining Machines Are Profitable Again

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