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Three reasons why China will “lose its grip” on Bitcoin mining as political tensions mount Three reasons why China will “lose its grip” on Bitcoin mining as political tensions mount

Three reasons why China will “lose its grip” on Bitcoin mining as political tensions mount

Weeks after the Bitcoin halving in mid-May, miners are seemingly moving out of China and into Europe โ€” with one prominent mining pool stating geopolitical tensions between the United States and China are a major catalyst.

Three reasons why China will “lose its grip” on Bitcoin mining as political tensions mount

Image by Jatuphon Buraphon from Pixabay

Weeks after the Bitcoin halving in mid-May, miners are seemingly moving out of China and into Europe โ€” with one prominent mining pool stating geopolitical tensions between the United States and China are a major catalyst.

Losing “inertia” F2Pool, one of the worldโ€™s largest Bitcoin mining pool as per data on BTC dot com, said in a tweet this week that โ€œinertiaโ€ is keeping the most of the Chinese hashrate still intact, but the country will โ€œeventually lose its grip on the industry.โ€ The inertia keeping the majority of hashrate in China could eventually lose its grip on the industry.

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