According to the latest update of the Cambridge Bitcoin Electricity Consumption Index (CBECI) provided by Cointelegraph, the Chinese government failed to shut down crypto trading as part of its last year ban as China reemerged as one of the world's largest Bitcoin mining hubs.
As of January 2022, miners in China accounted for 21.1% of the total global distribution of BTC mining hashrate, second only to the US, which produced 37.8% of the total hashrate, according to the data.
The latest CBECI update also shows a slight decline in the share of hashrate in Kazakhstan, the 3rd largest BTC mining center in the world. The share of Kazakhstan’s BTC hashrate fell from 18% in August 2021 to 13.2% in January 2022.
The CBECI data also shows that miners are currently mining up to 9% of the global BTC hashrate in unspecified locations. Canada and Russia are the next big mining hubs, accounting for 6.5% and 4.7% respectively.