More and more people around the world are looking into buying crypto. The computing power looking for blocks of bitcoin to mine is therefore still growing steadily. Due to the Proof of Work consensus mechanism, miners have to provide work before new Bitcoin is released.
But what about the distribution of the physical location of the miners? There are a few notable names in the top 10.
Geography of miners
The Cambridge Center for Alternative Finance (CCAF), a research institute at the University of Cambridge, has provided an interactive map on which you can see where most miners are exactly located.
The platform shows the average hashrate of the past few months.
According to Cambridge, this is the first map with that kind of data being visualized. It gives a clear indication of the distribution of the active bitcoin mining hardware.
China is of course still on number 1. The country owns about 65% of the hashrate. Countries the United States and Russia are growing and battling it out for places 2 and three. Kazakhstan is an interesting one at lace four, just as Malaysia on the fifth spot.
Iran, which has seen growing interest from it’s companies to mine for Bitcoin in the past few month, has crept into the sixth spot. Developed economies like Germany, Canada and Norway each have less than a percent of mining power whilst Venezuela rounds out the top ten.
The researchers indicate that the data is based on the geolocation (or IP addresses) of miners affiliated.