China Quietly Reenters Bitcoin Mining, Reshaping Global Landscape

Despite a 2019 ban on all crypto mining in China, the country is quietly regaining its footing as a major player in the Bitcoin market. Industry data suggests China now controls around 14% of global Bitcoin hashrate, placing it third behind the US and Kazakhstan. Estimates from CryptoQuant point to even higher figures, ranging between 15% and 20%. This resurgence is driven by individual miners and private companies capitalizing on abundant cheap energy in provinces like Xinjiang and Sichuan.