China’s Bitcoin Mining Resurgence: A Comeback Against All Odds

Despite an official ban in 2021, China has experienced a surprising resurgence in Bitcoin mining. Data shows the country now holds the third-largest share of global hash rate, contributing around 14% as of October, according to Reuters reports. This comeback is fueled by affordable electricity, excess energy production, and expanded data center capacity, particularly in regions like Xinjiang and Sichuan. These factors make underground mining attractive once more.