China Potentially Reclaims Third Place in Global Bitcoin Mining, Holding 14% Market Share - Reuters

As reported by Reuters on the 24th, Bitcoin mining activities are quietly resurging in China.

Following the total ban in 2021, the country's mining share had plummeted to nearly zero. By the end of October, it had recovered to account for about 14% of the global total, reinstating China as the third largest mining nation (behind the USA and Kazakhstan).

The revival of mining activities is particularly notable in inland areas such as Xinjiang and Sichuan, where electricity is abundant and cheap. In Xinjiang, especially, there is a significant amount of surplus electricity that cannot be transmitted to other regions, which is being utilized for cryptocurrency mining...