London Daily

Focus on the big picture.
Saturday, Aug 15, 2026

Cambridge data shows Bitcoin mining on the move

Cambridge data shows Bitcoin mining on the move

New data shows Bitcoin mining in China was already in sharp decline before the latest crackdown by the government.

The research by the Cambridge Centre for Alternative Finance (CCAF) found China's share of mining fell from 75.5% in September 2019 to 46% in April 2021.

It also revealed Kazakhstan was now the third most significant Bitcoin mining nation.

Miners earn money by creating new Bitcoins, but the computing used consumes large amounts of energy.

They audit Bitcoin transactions in exchange for an opportunity to acquire the digital currency.

Global mining requires enormous computing power, which in turn uses huge amounts of electricity, and consequently contributes significantly to global emissions.

The CCAF's Cambridge Bitcoin Electricity Consumption Index shows that at time of writing Bitcoin consumed almost as much electricity annually as Colombia.

China moves


In June the Chinese authorities took strong action against Bitcoin.

The authorities told banks and payments platforms to stop supporting digital currency transactions causing prices to tumble.

The data from the CCAF covers a period before the crackdown, but it shows China's share of global mining power was already in significant decline prior to the action by the Chinese authorities.

The Cambridge researchers observed that the crackdown, once enacted, effectively led to all of China's mining power "disappearing overnight, suggesting that miners and their equipment are on the move".

Kazakhstan is a heavy user of coal-fired generation


Experts say the miners are highly mobile.

"Miners pack shipping containers with mining rigs", said David Gerard, author of Attack Of The 50 Foot Blockchain, "so that in effect they are mobile computer data centres, and they are now trying to ship those out of China".

It's not clear where they will go, but even before the crackdown the geography of mining was shifting.

Kazakhstan, a country rich in fossil fuels, saw an almost six-fold increase in mining - increasing its share from 1.4% in September 2019 to 8.2% in April 2021.

According to the US Department of Commerce, 87% of Kazakhstan's electricity "is generated from fossil fuels" with coal accounting for more than 70% of generation.

The country is now the third largest miner of Bitcoins, behind the US, which saw its share of global mining power also rise significantly - to 16.8%.

Raining money


The data also revealed the close ties between sources of cheap electricity and Bitcoin mining.

Researchers found a seasonal movement of mining between Chinese provinces in response, it was suggested, to the availability of hydro-electric power.

Mining moved from the coal-burning northern province of Xinjiang in the dry season, to the hydro-abundant southern province of Sichuan in the rainy season.

The researchers noted that "this seasonal migration has materially affected the energy profile of Bitcoin mining in China", adding that it illustrated "the complexity of assessing the environmental effects of mining".

Sichuan banned Bitcoin mining in June.

Newsletter

Related Articles

0:00
0:00
Close
UK and Finland Discuss European Defence and Continued Support for Ukraine
Nigel Farage Wins Clacton By-Election to Return to the House of Commons
UK Government Deploys Military to Help Fight Wildfires and Bans Disposable Barbecues
UK Records Hottest Day of the Year as Fifth Summer Heatwave Peaks in Southern England
UK Condemns Houthi Actions and Warns of Red Sea Threat to Global Trade
UK and Solomon Islands Open Wildlife Photography Exhibition in Honiara
UK Small Businesses Face Continued Cash Flow and Tax Pressures
Greatham Marsh Restoration Restores Tidal Wetland in Hartlepool After More Than 200 Years
UK Health Regulator Urges University Students to Check Meningitis and Measles Vaccination Status
Mining Remediation Authority Completes Major Ground Stabilization Works in Scottish Community
UK Food Crime Investigators Seize 33 Tonnes of Illegal Food in Multi-Agency Operation
Technical Qualification Uptake Hits Record High as Advanced Mathematics Results Improve
UK Summer Temperatures on Course to Challenge Long-Standing Records, Met Office Says
UK Farmers Bring Forward Cereal Harvests as Drought Threatens Yields
Wildfires Surge Across England and Wales as Fire Chiefs Report Record July
UK Nurses Warn of Heat Risks as Hospital Staff Struggle With Extreme Temperatures
Southern Water Seeks Drought Order for Hampshire and Isle of Wight Amid Water Shortages
UK Heatwave Pushes West London Temperature to 38.1 Degrees as Health Alerts Continue
UK Economy Grows 0.4% in Second Quarter Despite Global Uncertainty
China’s Kimi Launches AI-Focused Credit Card With Agricultural Bank of China and American Express
UK Residents Gather to Watch Rare Partial Solar Eclipse
Reform UK Deputy Leader Richard Tice Faces Criticism Over Legal Threat Against Guardian Journalist
Michael Forsyth Elected Speaker of the House of Lords
Cambridge Researchers Launch £20 Million Human Organoid Drug Testing Programme
Heathrow Loses European Passenger Traffic Lead to Istanbul Airport
Households Near New UK Electricity Pylons to Receive £250 Annual Energy Bill Discount
UK Government Estimates Zero-Hours Contract Ban Could Cost Employers Up to £3 Billion a Year
Robert Jenrick Leaves Conservatives for Reform UK in Major Parliamentary Defection
UK Police Chiefs Urge Government to Block Early Release of Andrew Harper Killers
UK Government Holds Emergency Cobra Meeting as Drought and Heatwave Raise Wildfire Risks
Former Labour Adviser Arrested on Suspicion of Spying for China Held Privileged Access as Top Party Donor
Turkish Parliament Passes Landmark Bill Granting Conditional Amnesty to Disarmed PKK Members
Donald Trump Warns FIFA Against Ousting Gianni Infantino Amid Revolt by Global Football Leaders
Jeff Bezos Joins Investor Group Closing In on $6 Billion Liverpool FC Stake
Police Conduct Cross-Border Raids Against Northern England Drug Network
Nicola Sturgeon Protested at Edinburgh Festival Fringe Event
Major UK Retail Chain Enters Administration With One Hundred Fifty-Four Stores Set to Close
Heathrow Renews Call for Runway Expansion After Losing Europe’s Busiest Airport Ranking
Government Condemns One Million Pound Thames Water Executive Bonus Amid Drought
NHS England Says More Than One Hundred Thousand Hepatitis C Patients Have Been Cured
UK Foreign Secretary Ed Miliband Calls for End to West Bank Settler Violence
UK Prepares for Deepest Partial Solar Eclipse Since Nineteen Ninety-Nine
UK Heatwave Triggers Amber Health Alerts as Economic Losses Reach Four Point Four Billion Pounds
UK Offers Electricity Bill Discounts to Communities Hosting New Power Infrastructure
Bank of England Expected to Hold Interest Rates at Three Point Seven Five Percent
UK Government Moves to Ban Subscription Traps and Misleading Retail Discounts
Andy Burnham Gives Councils New Powers to Block Betting and Vape Shops
UK Councils to Receive Sweeping Planning Powers to Ban New Vape and Betting Shops
Nicola Sturgeon Says She Has No Contact With Estranged Husband After SNP Embezzlement Case
Police Arrest Two Men After Aberdeenshire Defense Technology Office Break-In
×