Interest in Bitcoin Mining has Increased in Turkey

Interest in Bitcoin mining has increased in Turkey. Contribution to Bitcoin mining made by Turkey has increased by 30 percent.

According to the data published by the Cambridge Center for Alternative Finance, China's computer power, or "hash rate", connected to the global Bitcoin network, which has long been the world leader in cryptocurrency mining, fell to from 75 percent in September 2019 to 46 percent in April 2021. Adding a new one to its harsh measures regarding cryptocurrencies every day, China took the biggest step of these measures in May and closed almost all major Bitcoin mining facilities in the country or cut off the electricity to the facilities. The share of Turkey's Bitcoin mining has increased compared to last year. Last year, Turkey accounted for 0.03 percent of global Bitcoin mining, while this rate has increased by more than 30 percent to 0.04 percent, according to the latest data. The Center for Alternative Finance from Cambridge University published a cryptocurrency research in September of last year and announced that approximately 100 million people in the world own the leading crypto Bitcoin and other Blockchain-based cryptocurrencies. In 2018, this figure was approximately 35 million.