China re-emerges as Leading Bitcoin Mining Hub

china to ban crypto mining to meet CO2 goals

China outlawed Bitcoin mining last May. Exactly a year later, the country has re-emerged as the leading venue for mining operations.

A new study revealed underground mining activity in the country had catapulted it to second place globally in terms of installed mining capacity.

New mining map data, spanning the period from September 2021 to January 2022, included shows that the US has remained at the forefront of Bitcoin mining and extended its leading position (37.84%) amidst the global hashrate recovery. Following a sudden uptick in covert mining operations after the June 2021 government-mandated ban on Bitcoin mining, China has re-emerged as a major mining hub (21.11%). Kazakhstan (13.22%), Canada (6.48%), and Russia (4.66%) have been relegated to more distant places.

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