No, we can no longer mine Bitcoin (BTC) in his living room even if he will never be also easy to mine bitcoin than today. We are also not obliged to emigrate to China which controls a large part of the hashrate of the network, or to Kazakhstan even if the country has grazed the billion investment in Bitcoin mining.
China: a Bitcoin mining monster
Thanks to an abundant and affordable workforce as well as cheap energy, the China controls more than 50% of the hashrate of Bitcoin.
Although the use of cryptocurrencies and exchanges are prohibited there, the official position of the Chinese government on this subject remains ambiguous.
It has also integrated blockchain technology into its main industries, allowing mining to Bitcoin to develop oneself.
The major manufacturers of mining machines are also based in China, miners across the country can quickly upgrade their equipment.
Bitcoin mining: an essential service for this country
Miners are now wondering whether to settle in other countries to mine Bitcoin in the best conditions.
Companies wishing to invest in the mining of Bitcoin are more and more interested in Canada and the United States.
Although start-up and maintenance costs in these countries are higher, the availability of sustainable and cost-effective electricity is a huge plus.
Their political stability also reduces the risks of administrative closure of mining companies by the government.
The Canada, for example, had viewed mining operations as essential services during containment, as opposed to China where the miners had faced many supply chain challenges during this period.
The difficulties linked to this regulatory context are undoubtedly at the origin of the growing decline in hashrate in China.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
Will the upcoming crypto-yuan launch harm Bitcoin mining, as the Chinese government should logically take steps to ensure the dominance of its CBDC? Satoshi Nakamoto did not necessarily think of a risk of centralizing Bitcoin mining in certain countries, especially as the mining difficulty increases. If China suddenly decided to shut down all mining farms in its territory, network security would take a hit. Bitcoin would therefore be at the mercy of the digital yuan?