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Really?! China Bitcoin mining has surged back to third place in the world?!
Reuters reported that although China全面禁止了加密交易和Mining in 2021, now—
China's mining market share has quietly climbed back to third place in the world, reaching 14%.
What's even more outrageous is that much of the computing power comes from Xinjiang. Local miner Wang Ge directly stated:
If there is a lot of electricity, it's cheap, and you can't transport it, then just use it for Mining.
The new mining farm is still under construction, and I'm sure that as long as the electricity price is low, mining will not stop.
CryptoQuant also estimates that currently 15%-20% of the global hash rate comes from China.
I can only say one thing:
Mining has never left, it has just returned in a low-key manner.