08:28
China's Bitcoin Mining activities have rebounded, with market share rising to third place globally.
ChainCatcher news, despite China's comprehensive ban on crypto assets trading and mining in 2021, Bitcoin mining activities are quietly reviving in China. Hashrate Index data shows that China's Bitcoin mining market share has rebounded from zero after the ban to 14% by the end of October, ranking third in the world. Miners primarily utilize cheap electricity and surplus capacity from data centers in energy-rich provinces like Xinjiang. Mining rig manufacturer Canaan's sales in China in the second quarter of this year have exceeded 50% of its global revenue.

