Weeks after the Bitcoin halving in mid-May, miners are seemingly moving out of China and into Europe — with one prominent mining pool stating geopolitical tensions between the United States and China are a major catalyst.
Losing “inertia” F2Pool, one of the world’s largest Bitcoin mining pool as per data on BTC dot com, said in a tweet this week that “inertia” is keeping the most of the Chinese hashrate still intact, but the country will “eventually lose its grip on the industry.” The inertia keeping the majority of hashrate in China could eventually lose its grip on the industry.
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