Where are the biggest Bitcoin mines in the world in 2021?
Bitcoin mines in 2021 will face major challenges in a number of countries, especially China. The Chinese government prohibits all things related to cryptocurrencies in the country.
This has also had an impact on Bitcoin mines 2021 in the country. It is known that China is the biggest country for Bitcoin mining.
Malaysia also has reports of officers destroying Bitcoin mining equipment which is suspected to be an illegal operation in their country.
Iran has also banned Bitcoin miners for allegedly causing power outages due to electrical loads on mining equipment.
What will happen to crypto mining in the future? Is this still a profitable industry?
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Contents
Bitcoin mines explained
Bitcoin mining in Sichuan China
In basic, Bitcoin is a decentralized cryptocurrency that requires miners to solve complex math in every transaction. Every miner who solves the math will get a Bitcoin reward.
A number of computers dedicated to mining Bitcoin compete for the reward. It an opportunity gave rise to Bitcoin mining companies like Bitmain that manufacture mining equipment.
Bitcoins are generated by special servers that function like ‘mines’. The system will periodically issue complex numbers which will be translated as Bitcoin. Those complicated numbers will then be solved by the miners through their mining equipment.
The faster the computer speed you have, the greater the possibility of getting Bitcoin.
Where is the Bitcoin mines factory located?
Bitcoin mines are scattered in various countries, but according to data from the University of Cambridge, there are 10 countries that are the largest locations for Bitcoin mining. These countries are:
- In China, Bitcoin miners in China are spreading across several provinces, Sichuan, Xinjiang, Yunnan, Nei Mongol, Gansu, Zhejiang, Beijing, Qinghai, and others.
- The United States, the most location Bitcoin mines in North America.
- Russian federation, Bitriver is the largest miner located on the Angara River in Russia.
- Malaysia, The country is the fourth Bitcoin mining location mostly located in Sarawak.
- Iran, more Iranian Bitcoin mining locations in Tehran.
- Kazakhstan, Bitcoin mines in Kazakhstan increased after China banned the use of cryptocurrencies.
- Canada, Bitfarms is Canada’s largest Bitcoin mining company..
- Germany, This country is the eighth largest Bitcoin mine accounted for 2.81% in April 2021 according to data from Statista.
- Ireland, The country accounted for 2.27% Bitcoin mines of overall statistics as of April 2021.
- Others, As many as 5.92% of Bitcoin miners are spread across various countries, but no data reporting the hash rate of the mine.
Bitcoin mining hash rate distribution 2021
According to data from Statista, most Bitcoin mining is China, this statistic retrieves the IP addresses hasher used for the mining pool.
Data taken from 2019-2021 shows that China has always been at the top of other countries. From September 2019 to February 2020, China controlled more than 70% of Bitcoin miners.
Although currently, China is still at the top of the Bitcoin mines location, the percentage tends to decrease.
This decline is most likely due to the Chinese government’s crackdown on cryptocurrency activities. As a result, many Bitcoin mines have closed their operations in the country.
On the other hand, there is an increase in the percentage for the United States, this indicates that Bitcoin miners in China have relocated their operations to the United States and other countries.
The biggest Bitcoin mines 2021
Since Bitcoin began to become popular, China has always been the biggest Bitcoin mines on the planet.
But suddenly the Chinese government cracked down on cryptocurrencies, including banning mining in the country. Because of this policy, many Bitcoin mining factories took off operations, due to government pressure. As a result, there has been a high decline in Bitcoin mines in this country.
On the other hand, the United States, which has been the second top Bitcoin mine, has increased Bitcoin mines.
Maybe at this time, Chinese Bitcoin miners are still looking for a location to relocate a Bitcoin mining factory that geographically, politically, and jurisdictionally supports cryptocurrencies.
Impact China banned cryptocurrency to Bitcoin mines
The Chinese government has officially banned financial institutions and payment companies from providing services related to cryptocurrency transactions.
Bitcoin plummets due to the impact of the policy, followed by other cryptocurrencies. Bitcoin price even below the psychological level of $30,000 on May 17, 2021, BTC low at $28700.
Other cryptocurrencies have also been dragged into the downward trend in prices. The price of Ethereum fell 14 percent to the range of US $ 2,978 per coin. With an accumulated decline of 31 percent from its record high.
Likewise with Dogecoin fell 13 percent. The price of dogecoin had skyrocketed to 670 percent in the past year, while the price of bitcoin rose 323 percent.
Another impact of the ban, there are so many Bitcoin miners, exodus outside China. The miners from China are looking for locations in Central Asia, Eastern Europe, the U.S. and Northern Europe, and neighboring Kazakhstan.
Why has China banned cryptocurrency?
The Chinese government banned cryptocurrencies because it wanted to stabilize its currency. China’s fact reasons for banning cryptocurrencies include:
- Cryptocurrencies are possible to disrupting economic stability.
- Investors are asked not to make speculative transactions to suppress digital transactions that are growing in the country.
- Banks and online payment channels are prohibited from serving cryptocurrency transactions. This is also an effort to stop the growth of crypto digital transactions.
- According to the People’s Bank of China, virtual currencies are not backed by real value, their value is easily manipulated, and trading contracts are not protected by regulations in China.
Although China prohibits the services of saving, underwriting, or issuing financial products related to cryptocurrencies. However, individuals allow to holding the currency.
Is crypto mining profitable?
Bitcoin mining still provides benefits for some miners, the most important thing is hash power, electricity costs, as well as maintenance costs. Bitcoin price fluctuates but is still quite attractive to some miners.
Crypto mining sites 2021
There are more than twenty cloud mining sites in the cryptocurrency world, but not all cloud mining sites are safe. Here are good Bitcoin mining sites including cloud mining that allows you to mine Bitcoin.
Hashing24
Hashing24 is one of the well-known legit Bitcoin mining sites that has been around since 2015. This site has a simple interface and has 9 languages, visitors can customize their preferred language.
Genesis mining
Genesis Mining was founded in late 2013. It is one of the largest Bitcoin mines sites in the world. The advantage of genesis mining is that the mining process is instant because after 4-5 hours of payment the cloud mining will be active.
IQ mining
IQ Mining is one of the sites that provides trusted mining with cloud mining. You don’t need to be an expert in crypto mining here. Apart from Bitcoin, the platform also supports Dash, Moner, Zcash, Litecoin, and Ethereum.
ECOS
These are Bitcoin miners found in Armenia in 2017, being a cloud mining offering cloud mining. Besides being headquartered in Armenia, ECOS also has a branch in Russia as well.
Crypto Universe
It is a cloud mining service operating since 2018, and mainly in the Russian Federation market. Users can purchase miners for individual mining or rent with cloud mining.
You can customize your own plan for the budget you spend. With a choice of rental duration of 180, 360, and 540 days. Crypto universe has a user-friendly platform making it easy to use.
BeMine
BeMine is a cloud mining company primarily operating in Russia, founded in 2018 using ASIC miners. They offer 4 types of plans, Beginner, Standard, Professional, and Ultra.
Beginner contract 12 months at $392, Standard 8 months at $3,920, Professional 6 months at $19,600, and Ultra package for 12 months at $98,000.
HashSiny
This is another crypto mining alternative available for Bitcoin, Ethereum Zcash, Litecoin, Dash, and Decred. HashSiny’s development since 2017, claims to be one of the leaders in cloud mining in the world.
The site, which has protection with DDOS protection from Cloudfare, offers new users a free 5TH/S SHA-256 (BTC) hash rate.
Free crypto mining sites 2021
Almost Bitcoin mines to rent require some capital to the beginning. But some cloud mining provides package plans for free.
It will be very interesting for beginners to try the free plan. Although the facilities are not like the paid version, beginners will be happy if they get real earnings.
Bitland.pro
For information, Bitland.pro was founded in 2017 but has only been operating since 2018 due to testing software and hardware.
You will find a free plan on Bitland.pro, there offers 8 types of plans with different tariffs and specifications.
- Free $0 plan, 0.5% per day Reg Bonus 1USD (2000b Gh/s) , every 60 minutes.
- Economy 1$ plan, 1.5% per day, Reg Bonus 1USD (2000 Gh/s), every 50 minutes.
- Basic $5 plan, 2.8% per day, Reg Bonus 1USD (2000 Gh/s), every 40 minutes.
- Advanced 25$ plan, 3.5% per day, Reg Bonus 1USD (2000 Gh/s), every 30 minutes.
- Business 75$ plan, 3.8% per day, Reg Bonus 1USD (2000 Gh/s), every 20 minutes.
- Business+ $150 plan, 4.3%, Reg Bonus 1USD (2000 Gh/s), every 15 minutes.
- Premium $250 plan, 5% per day, Reg Bonus 1USD (2000 Gh/s) every 10 minutes.
- Premium +$450, 6% per day, Reg Bonus 1USD (2000 Gh/s) every 5 minutes.
Cryptoplace.cloud
This is an alternative to Bitcoin cloud mining that offers a free plan as well. This cloud mining discovered in 2017, supports Bitcoin, Litecoin, Dogecoin, BCH, TRX. Offers 10 types of packages with different rates, including the first free package.
Cryptoplace.cloud offers tariff package:
- Free, $0, 1%, 6 months.
- Easy start $1, 2% 6 months.
- Economy $5, 2.5%, 6 months.
- Basic $25, 3%, 6 months.
- Comfort $50, 3.5%, 6 months.
- Premium $100, 4%, 6 months.
- Platinum $200, 4.5%, 6 months.
- Elite $400, 5%, 6 months.
- Saphire $800, 5.5%, 6 months.
- Infinity $1600, 6%, 6 months.
Conclusion
The Chinese government’s ban on cryptocurrencies resulting Bitcoin mines in the country declining. Some of which was to shut down and partly relocated to other countries.
However, the latest data, shows that China is still the biggest Bitcoin mines in 2021 at least as of the time of writing.
If the Chinese government continues to suppress cryptocurrencies, it will allow the country’s title as the biggest Bitcoin mines to shift to other countries in the future.
Note: this article is for informational purposes only and does not constitute investment advice, each investor is responsible for their own investment.
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