Cryptocurrency Mining – Interesting Facts to Know According to a study by CoinShares, the share of Chinese miners in hashrate in 2019 rose to 65% – the highest level in two years during which it has been observing. At the same time, 54% of computing power is located in Sichuan. However, the trend of the year was the development of large mining projects outside of China, primarily in the United States. The Hashrate Stats of 2019 The steady increase in the hashrate of the Bitcoin network continued throughout almost the entire year. In October, the figure hit a historic high of 104.3 TH / s. Then, the hashrate decreased slightly, but overall over the year, it more than doubled from 40 TH / s to 90 TH / s. This growth was facilitated by the launch of an increasing number of mining installations and the replacement of older models with more efficient ones. But, according to specialists from the Binance research unit, not all miners rationally used the growing power. For example, analysts could not find a reasonable explanation why during the year, some of them mined Bitcoin SV (BSV) instead of the more profitable bitcoin, having lost $ 13 million on this. The Profit of ASIC Manufacturers In the first half of 2019, Canaan Creative increased its market share to 22% while the constant leader of Bitmain reduced it to 65%. For comparison, two years ago, these figures were 6% and 75%, respectively. The third Chinese mining giant, Ebang, also increased its “market pie” during this period – from 5% to 8%. But the results of the year, which will become known later, can make serious adjustments to this picture. According to Chinese media reports, in October, with the traditional end of the rainy season in Sichuan, miners began to upgrade equipment to a more efficient one. According to sources among sellers of ASIC miners, up to 50% of purchased devices come from MicroBT’s flagship models, while Bitmain’s Antminer installations account for about 16.7%. This is easy to believe by looking at the profitability rating of miners for mining bitcoin from F2Pool. The list is led by Whatsminer M30S from MicroBT, and in the top ten four models of the company – the same as Bitmain. The Mining Alternative Project in the USA by Bitmain Bitmain has built a 50 MW mining center in Rockdale, Texas, with the prospect of increasing to 300 MW. In the same area, a much more ambitious project is being implemented by the German company Northern Bitcoin – a mining farm with a capacity of 1 GW and an area of 57 football fields. It is worth mentioning the company Crusoe Energy Systems, which has developed mobile units for the production of bitcoin using associated gas energy in shale oil fields in the United States. Crusoe already operates eight such units with a capacity of 1 MW each. Investors, including the notorious Winklevoss twins, believed in the company’s technology – it attracted $ 70 million in funding to deploy 70 plants. Miners to Go for an IPO After unsuccessful attempts by Chinese mining giants to go public for an IPO in Hong Kong this year, messages began to appear about their plans to conduct an initial public offering outside of China. The intention of Canaan Creative to conduct an IPO in the United States became known at the beginning of the year, in the summer – about a similar goal of Bitmain. “Canaan Inc., the worldwide leader in producing blockchain servers and designing ASIC microprocessor solutions, announced the pricing of 10 million American Depositary Shares at US$9.00 per share for a total offering size of US$90,000,000…” — @Block_Train https://t.co/UP9PzZUXXP— Canaan (@canaanio) November 22, 2019 In October, Canaan applied with the Securities and Exchange Commission (SEC). The company planned to raise $ 400 million, but in the repeated application, it reduced requests to $ 90-110 million. In November, Canaan became a “pioneer” among the largest miners, posting 10 million US depositary receipts at $ 9 apiece on NASDAQ.