Despite a 2021 ban, China has reemerged as a significant player in Bitcoin mining, now ranking third globally based on its hashrate. This development comes amid a booming AI-driven data center industry and increased private crypto mining activity. Key insights include: 1) The surge is fueled by the availability of cheap energy in regions like Xinjiang and Sichuan. 2) Canaan, a major Bitcoin mining rig maker, reported significant sales growth within China during Q2 2025. 3) This rebound coincides with rising global crypto adoption, including increased treasury companies and regulatory support for Bitcoin trading. 4) While the Chinese government hasn’t officially lifted restrictions on Bitcoin mining and trading, private miners are capitalizing on cheap electricity in low-cost regions. 5) The resurgence of China’s Bitcoin mining is likely to have a positive impact on the cryptocurrency market.