China's bitcoin mining market share jumps to third place in the world
2025-11-24 08:32:27
According to Reuters, bitcoin mining activity is quietly recovering in China despite a total ban on cryptocurrency trading and mining in 2021. China's bitcoin mining market share has rebounded from zero after the ban to 14% at the end of October, ranking third globally, according to Hashrate Index data. Miners mainly take advantage of cheap electricity and excess capacity in data centers in energy-rich provinces such as Xinjiang. Mining machine maker Canaan's sales in China in the second quarter of this year have exceeded 50% of its global revenue.
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