The world's top Bitcoin mining pools mainly come from China, with five pools being responsible for more than half of the cryptocurrency's total hash. Hashing refers to the amount of processing power that PCs use to build the blockchain: the more blocks of verified transactions that are processed or "hashed", the more Bitcoin - the reward for this verification process - is being mined. Simply put, the higher the hashrate - or the hash power of the overall network - the more secure it is. In 2020, China was responsible for mining more than half of all the Bitcoins in the world.
Distribution of Bitcoin's network hashrate in the last 24 hours on April 29, 2024
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Website (BTC.com). (April 29, 2024). Distribution of Bitcoin's network hashrate in the last 24 hours on April 29, 2024 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/731416/market-share-of-mining-pools/
Website (BTC.com). "Distribution of Bitcoin's network hashrate in the last 24 hours on April 29, 2024." Chart. April 29, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/731416/market-share-of-mining-pools/
Website (BTC.com). (2024). Distribution of Bitcoin's network hashrate in the last 24 hours on April 29, 2024. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/731416/market-share-of-mining-pools/
Website (BTC.com). "Distribution of Bitcoin's Network Hashrate in The Last 24 Hours on April 29, 2024." Statista, Statista Inc., 29 Apr 2024, https://www.statista.com/statistics/731416/market-share-of-mining-pools/
Website (BTC.com), Distribution of Bitcoin's network hashrate in the last 24 hours on April 29, 2024 Statista, https://www.statista.com/statistics/731416/market-share-of-mining-pools/ (last visited November 21, 2024)
Distribution of Bitcoin's network hashrate in the last 24 hours on April 29, 2024 [Graph], Website (BTC.com), April 29, 2024. [Online]. Available: https://www.statista.com/statistics/731416/market-share-of-mining-pools/