China controls 50% of BTC extraction, the USA 14%

China controls significantly less BTC mining than people believe, according to a new study.

A study published on July 16 by Fidelity and research firm BitOoda shows that China is actually responsible for around 50% of Bitcoin mining, not 65% as previously claimed.

Analysts used various sources as well as "confidential conversations" with miners who agreed to disclose information on aspects such as electricity costs, provided they remain anonymous.

"We were able to locate ~ 4.1 GW of capacity in 153 mines, including 67 locations or ~ 3 GW of capacity, the data of which we received provided that the source remains anonymous"

BitOoda also stated that 14% of mining takes place in the United States. Nevertheless, estimates in China were difficult to confirm, and the figures for 50 percent. remain open for further interpretation.