If you are reading this then it means that you may also be among the group of people who are interested in cryptocurrencies. As you are about to be enlightened about Bitcoin (BTC) then it means that you are interested in Bitcoin (BTC) more than any other cryptocurrency.
This is based on the fact that the cryptocurrency industry has gained an immense amount of popularity in the running year. The reason behind the success of the cryptocurrency industry is that it was the only financial solution when the global economy was down due to the pandemic.
The moment lockdowns were enforced throughout the globe, millions of people migrated to the crypto-industry to keep the money flowing. As always, Bitcoin (BTC) remained the top and the largest cryptocurrency in the crypto-market. From the 3rd quarter till now (4th quarter), Bitcoin (BTC) has remained above $10k per BTC. This has broken all its previous records with respect to stability.
By now, many financial investment firms have recognized the importance of the Bitcoin (BTC) and have spent millions of dollars to acquire Bitcoins (BTC). The same has been the case for many corporate as well as governmental sectors from different countries that have started investing in Bitcoin (BTC).
At present, there are many countries involved in mining Bitcoin (BTC), but China is currently at the top. Recently, Cambridge University released a utilization report against Bitcoin (BTC) where it was revealed that China is responsible for mining the highest amount of Bitcoin (BTC).
The data released by the University of Cambridge shows that China is responsible for 65% of the Bitcoin (BTC) hash rate in the entire world. Although Bitcoin (BTC) mining is practiced in all the major regions of China, the Xinjiang region in particular is at the top. Xinjiang is a self-governing region in China, which is responsible for producing 35.76% of the world’s total Bitcoin (BTC) hash rate.
Xinjiang in China is known mainly for its mountains and deserts. The main source of energy production is through ‘Coal’. With so much energy production being generated by China from this region, it is a perfect place for Bitcoin (BTC) miners to be.