InstaForex

October 28, 2021

Malaysia Listed As Bitcoin Mining (BTC) 'Hot Spot'

 Unexpectedly Malaysia is listed as one of the popular countries for Bitcoin (BTC) mining activities based on a report from the Wall Street Journal (WSJ).


The list also includes several other countries such as Kazakhstan, Iran, Russia, and China.


Indirectly, the United States (US) dominates the first place as the country with the highest rate of BTC mining activity.


Records from the University of Cambridge reveal more than a third of global computing power consumption is derived from bitcoin mining in the US.



Previously, China has held the record as the most dominant country in crypto mining.


Because the country’s government issued warnings and banned crypto -related activities, a dumping of cryptocurrency miners chose to move abroad.


This WSJ report also reminds Hatten Land that it wants to open a crypto mining hub in Melaka, Malaysia. It is possible that the crypto mining sector in Malaysia will continue to grow rapidly.


Overall the crypto market is starting to show positive movements. Bitcoin (BTC) traded at $ 59,374, up 0.71% in 24 hours.