In the field of digital currency, Bitcoin has always played a leading role, and as China's super Bitcoin mining giants accelerate their actions, mining computing power is bound to soar. This new development is bound to attract attention and heated discussions around the world. Next, let's take a deeper look at this exciting topic.

As an important pole in the global Bitcoin mining industry, China's move to accelerate mining computing power will have a profound impact on the entire digital currency market. With the continuous advancement of technology and the growth of market demand, China's Bitcoin mining industry is ushering in new development opportunities. This trend will not only drive the market price of Bitcoin, but also accelerate the overall development of the digital currency industry.

The rise of China's super Bitcoin mining giants not only reflects China's leading position in the field of digital currency, but also highlights its importance in the global economy. As Chinese companies increase their investment and research and development in Bitcoin mining technology, mining computing power is bound to soar. This will bring more opportunities and challenges to China's digital currency market, and will also promote the further development of the global digital currency market.

The accelerated actions of China's super Bitcoin mining giants will further consolidate China's position in the global digital currency market. As China's influence in the field of Bitcoin mining continues to expand, the surge in its mining computing power will become an important indicator of the global digital currency market. This trend will lead the global digital currency market to a more prosperous and stable direction.

In general, the accelerated actions of China's super Bitcoin mining giants will surely lead the global digital currency market to new heights. As China's influence in the field of Bitcoin mining continues to grow, the surge in its mining computing power will inject new vitality and momentum into the global digital currency market. Let us wait and see, and witness together China's brilliant future in the field of digital currency!

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Bitcoin mining is currently the most competitive of all cryptocurrencies. The total network hashrate for cryptocurrency mining has reached record levels amid the surge in bitcoin prices in 2019, with bitcoin prices roughly tripling since the beginning of the year, reaching more than $18,000 at the end of June.

Construction trucks drive over a bridge to deliver supplies at the Wudongde Hydropower Station on the Jinsha River at the junction of Huidong County, Sichuan Province, and Luquan County, Yunnan Province. Sichuan is a region where bitcoin mining is concentrated due to its access to cheap hydropower.

Bitcoin mining looks set to get even harder, with China's super bitcoin mining centers about to boost their astonishing bitcoin mining hashrate due to seasonal rains and the impact on falling electricity prices.

According to a report released by blockchain research firm Coinshare, about 60% of the world's bitcoin mining occurs in China, with much of it concentrated in Sichuan province.

Sichuan alone generates 50% of the total network hashrate for bitcoin mining

Situated on the banks of the mighty Yangtze River, Sichuan's huge multi-million bitcoin mines can tap into hydropower resources at highly competitive prices.

Bitcoin miners need a huge supply of electricity to mine cryptocurrencies and cool their massive Bitcoin mining farms.

Sichuan is about to enter its rainy season. During this period, Sichuan's electricity prices are the lowest in the world, making it one of the most attractive mining regions in the world.

There are reports that Sichuan's Bitcoin mining farms have the ability to double their current mining scale, and given the recent record highs in Bitcoin prices, they will indeed choose to increase the number of Bitcoin mining machines and increase mining efforts.

Located on the Jinsha River in the upper reaches of the Yangtze River, the Wudongde Hydropower Station has a dam that blocks the river to form a reservoir that can store about 7.4 billion cubic meters of water.

Fred Schebesta, a self-made Australian Dot
Com millionaire who is a dedicated cryptocurrency entrepreneur, told nine.com.au that Bitcoin, the "digital gold" of the cryptocurrency world, rebounded in 2019 and is now at an exciting time to enter the mainstream.

He said that Bitcoin's market surge is directly related to the difficulty of mining.

"The reason there are so many new miners coming in now is because the price is going up. When the price goes up, more miners come in. 

"When the big mining accident happened (in late 2017), many miners quit and the difficulty of mining went down." 

Schebesta, the founder of finder.com.au and currently the founder of a crypto exchange called HiveEx, said the "biggest driver" behind the recent surge in bitcoin was Facebook's announcement of its cryptocurrency called Libra earlier this month. 

Mr Schebesta said Libra had the backing of some major financial institutions and several digital giants. "This should mean a big increase in mainstream cryptocurrency usage." ”

The Coinshare report estimates that, excluding China, the world’s remaining hash rate production is roughly evenly distributed among Washington, New York, British Columbia, Alberta, Quebec, Newfoundland and Labrador, Iceland, Norway, Sweden, Georgia and Iran.

Owners of Bitcoin’s large computing network compete to mine “blocks,” which are records of all recent Bitcoin transactions that have entered the blockchain.

Bitcoins are awarded to miners as a reward for verifying previous transactions.

The blockchain operates like a giant, decentralized bank statement that records every transaction made with Bitcoin.

Bitcoin, Ethereum and other cryptocurrencies enjoyed huge growth in 2017, with Bitcoin’s value increasing 20-fold in a year.

But the bubble burst in late December 2017 and early 2018, and Bitcoin lost 80% of its value — from $27,000 in December 2017 to under $4,600 a year later.