Think Bitcoin mining wastes energy? 9 reasons it is not a waste of electricity chinese bitcoin mining resources! China is the undisputed world leader in Bitcoin mining. China crontrols an even greater amount.
China also accounts for hefty Bitcoin trading volumes. Chinese exchanges used to lead the world in terms of volume. So, just why is China the world’s leader in Bitcoin mining? Electricity cost is the most important factor for a profitable mining operation.
As mining difficulty increases, the least efficient miners are forced to shut down first. Electricity in China is extremely cheap compared to most other countries. Chinese electricity in industrial regions is either supplied by hydro-electric facilities or subsidized by the state. China’s cheap electricity keeps Chinese miners at peak efficiency and allows them to outlast their foreign competitors.