China's percentage of the global share was at about 38 percent before the country's ban was announced earlier this year, a number that other top cryptocurrency miners around the globe have since worked to replace.
While CBECI has advised caution for those who make "strong assertions" about the risks cryptocurrency pose to any country's carbon footprint, its researchers have noted efforts to address worries about Bitcoin's sustainability are likely to be driven by investors, with individual miners typically in pursuit of "cheap and stable power.".