Which Countries Are Mining The Most Coins?

[Sami balta 53]

Bitcoin mining gives more weight to countries with cheap energy consumption, such as electricity. Apparently, this has led to the centralization of the mining industries to only 10 to 15 major mining companies, which have taken over a considerable amount of hash power present in the blockchain network. As most of the companies are concentrated in a few countries, only these few countries mine and export Bitcoins. Here is the major ones: China - Georgia - Sweden - U.S.

[lechal46 1]

I think China, Russia and America are the leaders in mining

 

 

 

 

[Rickso 768]

On 1/27/2020 at 8:44 AM, Sami balta said:

Which Countries Are Mining The Most Coins?

as many said china has the most crypto farms in the world and so they are ones who have the most mining power and so the mine more coins than others.

why china? becasue they have very cheap electricity price since they create energy with solar panels 

[Brand1 1336]

I think China is the largest country that extracts cryptocurrency through mining, and it has the largest cryptocurrency mining farms and the largest mining power in the world and the reason is the very low price of electricity within it.

Edited June 15, 2020 by Brand1

[Raqeebzy 6456]

For now, China still remains the country responsible for more than 60% of Bitcoin mining hashrate followed by the US and Russia; Yunnan still holds the major hashrate in China. Apart from that,China still remains the major producer of mining equipments, for this reason coupled with a minimum electricity tarrif, they remain the stronghold of all cryptocurrency mining.

[Whited35 15285]

I think China and USA still deserves the top spots for Bitcoin mining. It is interesting to see Sweden in that list, I do research for it to sort out how mining operations are going on in Sweden. In China there are still huge mining farms are in operation. 

[Crypto123 0]

Yes, I think China is the first country in mining and also in the mining equipment industry, but I am really surprised that the United States is on this list because I know that cryptocurrencies are not acceptable there but I do not know if they allow mining or is this done illegally.

[Mcd0d0 5882]

Well, i think it is china because there are the foundation of mining by having some many miners on that country, it's good to do mining in china by having an cheap price of electricity so it's worth it.

[Zaino34 0]

This is true. China is one of the first countries to mine digital currencies. It contains many mining farms compared to the rest of the countries. It also produces mining equipment and exports it to the rest of the countries. This matter helps to increase the amount of mining as well.

[magd 5231]

This arrangement is very logical because China is the country that has the most huge mining farms and it is one of the countries that affects the price of bitcoin. Also, some mining rooms are currently being developed in the Arab world. Perhaps we will find the name of an Arab country in the coming years.

[Yomose 3704]

18 hours ago, Zaino34 said:

This is true. China is one of the first countries to mine digital currencies. It contains many mining farms compared to the rest of the countries. It also produces mining equipment and exports it to the rest of the countries. This matter helps to increase the amount of mining as well.

You are right, it even surprise me to hear a single city in China accounts for 10% bitcoin that is mined. I read this on cointelegraph, talking about an illegal mining industry in the city that use of electricity illegally. 

[Mcd0d0 5882]

22 hours ago, Zaino34 said:

This is true. China is one of the first countries to mine digital currencies. It contains many mining farms compared to the rest of the countries. It also produces mining equipment and exports it to the rest of the countries. This matter helps to increase the amount of mining as well.

Well, china is the best place to do mining because it has a cheap price of electricity bill so you're getting a huge profit by saving a money into paying electricity bills.

[Michael456 1]

I don't know exact answer of this question because I am totally new on this forum but I think China is a country where most of the bitcoin mine everyday but unfortunately I am not sure about it 

Edited June 17, 2020 by Michael456

[BTC Future 3946]

On 1/27/2020 at 9:44 AM, Sami balta said:

China - Georgia - Sweden - U.S.

I didn't know Sweden was involved in mining. I will have to take a better look.

Lately, another nation has rose in Bitcoin mining. Iran is today responsible for 4% of mining and their government has allowed and promotes Bitcoin mining. They've given out hundreds of licences to interested individuals and companies and since the power of electricity is sometimes even free for business purposes I think that we will witness Iran becoming a really strong competitor to China, concerning Bitcoin mining.

[Nab 263]

most mining companies are located in China, some Iceland and others in the United States and Canada because they are countries where the climate helps mining and also because electricity costs are cheap,taking into account that some mining companies invest in mining equipment and profitability is sometimes very low.

[Muhammad Ashraf 1]

Most of the time, there is a companion chain, some ice land and other deer in the United States and Canada. There are a number of things that can be done to help you get the most out of your company, and it can be very rewarding.

 

 

 

 

 

[Honny143 13612]

According to my knowledge I think 1) China 2) USA 3) Russia 4)Australia 5)Canada these 5 countries top in bitcoin mining, obviously first place occupied China because China miners mine 20% percent  bitcoin, because China government provide cheap prices of electricity so this country in top place.

[DiamondBit 720]

There is a particular city in China that mines 10% of the to ta btc mined in the world not to talk of the whole China, with this, it is very clear to us that China mine the most coin. This is because in China, it is easy to have access to mining cheaply and easily. 

[OVIROY21 499]

One of the country i think you would be the us thal greathly be making the market of cryptos and bitcoin. It must be noted thst this country will devolpoe the whole improvement of this bitcoin and most definitely they would be the ones introducing and making a profit on such.

[tienda 8776]

I think China will be the country with the high percentages of Bitcoin mining, because on this country there is not just the Chinese who mining also there are others companies from others countries. I think because of the cheapest of electricity cost and also the climate.

[marksattch9 20]

Yes, I agree with you. I think that the largest cryptocurrency mining farms in the world are in China, the United States, Russia and Australia, and certainly one of the most important reasons is the low price of electricity in these countries.

[Ola22 197]

I think that China has currently surpassed most countries in terms of mining for digital currencies, due to the high capabilities it provides for computers and the alternative energies it provides suitable for such operations, but it seems that countries are currently racing to do more of this technology.

[Sunny7391 55]

As everyone is asking for China because of low electricity costs but on other hand they must know the population of China. Even if half of their population start mining they will be more thsn 50% of the whole world that are mining for bitcoins. But now a days in pendamic conditions of COVID-19 those countries who don't allow digital currency trading they are allowing it to stay people home with earning a handsome amount at home. 

[SelimAbi 339]

Thanks for this information. We know that Bitcoin's origin is China. So China did not surprise me in this regard. They can be considered the owners of bitcoin. But Sweden is the country where I am surprised. I did not know that they have enough bitcoin mining to be among the top 4 countries. I will do some more research on this topic.

[RoyalHouse01 9]

the mining and the profits on the mining are directly related to the rate of the electricity and that is why I think only the country with the  cheap electricity will be able to mine more.