Under the ban, China's Bitcoin mining computing power is recovering, returning to the world's third largest mining country?In the torrent of history, some chapters seem to be predetermined, yet they always reappear in unexpected ways. In 2021, the Chinese government, with a thunderous momentum and out of dual considerations for financial stability and energy security, comprehensively banned cryptocurrency mining activities. This ban caused China's mining industry, which once held half of the global Bitcoin computing power, to fall silent in an instant, with millions of mining rigs extinguishing their indicator lights overnight, resulting in an epic "great migration of computing power." However, four years later, a surprising reality is quietly emerging: not only has Bitcoin mining activity in China not disappeared, but it has also revived in a secretive and resilient manner, with its computing power share climbing to the third place globally.
This is not only a test of the policy red line, but also a complex game woven together by economic incentives, local tacit agreements, and technological realities.
Computing Power Landscape Reversion
According to the professional analysis agency Hashrate In
LinkFocus·2025-11-26 09:55