Recently, bitcoin has already risen to $2000 level, which means this virtual currency is now much more expensive than gold. But do you know that over 75%of bitcoins are mined by China? After five year of effort, China’s hashing power has reached 75% of that of the globe, as reported in the China’s news.
To the Chinese miners, the buzzing sound of the machine means the sound of money, money, and money. There are over 10000 mining machines and over 20 mining companies working in the Sichuan province in China. One mining company stated that they can mine over 100 bitcoins a day in 2014, but only fewer than 50 now, and it costs more than 10000 CNY(~1450 USD) to mine one bitcoin, just to pay for the electricity.
This page is synchronized from the post: ‘Over 75% of Bitcoins are mined by China with a mining cost over $1450 per Bitcoin!’