In a new report issued by Bitooda, a crypto research company, it indicated that the capacity of Bitcoin mining in China is 50% of the global total, and that Bitcoin mining in the United States of America represents 14% of the global total.

So this the report It lowers the ratio previously indicated by the University of Cambridge Center for Alternative Finance (CCAF), which indicated that China’s share in the Bitcoin hash rate exceeds 65% and about 7.2% for the United States of America.

The report from Bitooda was published on July 15 with the support of Fidelity Investments.

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Bitooda says it reviewed several public sources, including some confidential conversations with miners, mining hardware manufacturers, and top stores in the industry to determine which areas have the most BTC mining capacity.

As excerpt from the report:

We were able to identify about 4.1 gigawatts (GW) of power across 153 mining sites, as well as 67 other sites or about 3 gigawatts of power capacity with energy price data provided on the anonymity condition of the miners.

The result came with China, where it accounted for 50% of the total global hash rate.

This undermines previous estimates as well as widespread views that the Asian country controls the majority of the world’s Bitcoin mining, when in fact, back to the figure in the report, China accounts for only half of the global Bitcoin hash rate.

While the United States of America accounts for 14% of the global mining volume, which means that the United States is rapidly growing as a major center for bitcoin mining, according to the same report.

Russia, Kazakhstan and Iran each account for 8%, Canada 7%, Iceland 2%, and the rest of the world 3%.

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The Bitooda report also carried data indicating that half of Bitcoin miners are currently paying an average of $0.03 per kilowatt-hour, which means that it is lower than what was being paid in 2018, which was then recorded at $ 0.06 per kilowatt-hour.

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We continue to discuss the results of the same report, which indicated that mining bitcoin at the present time costs $5,000 per bitcoin, but that depends on the hardware used and the price of electricity.

China’s miners are concentrated in provinces such as Sichuan and Yunnan to take advantage of lower energy prices during the flood season (from May to October).

During this period, a lot of rain leads to the production of a lot of hydroelectric power, which is sold to miners at less than $0.01/kWh, which makes the Bitcoin mining industry boom even more in China.

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