China has re-emerged as the world’s third-largest Bitcoin mining hub, capturing 14% of global mining by October, according to Hashrate Index data. This marks a surprising rebound despite Beijing’s 2021 mining ban.
Miners are quietly operating in regions like Xinjiang and Sichuan, where excess electricity and new data centers make mining economically feasible. CryptoQuant estimates that 15–20% of global mining capacity may now be running inside China.
Meanwhile, Bitcoin hashprice hit a new low as weaker BTC prices, high difficulty, and subdued fees continue to pressure miner revenues.
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