Bitcoin Mining in China Grows Tenfold Since 2021 Ban

• Despite a national ban, China now accounts for 14% of global Bitcoin mining, driven by cheap electricity.
• Mining hardware sales in China surged, with Canaan reporting up to 50% of Q2 2025 revenue from local buyers.
• Rising Bitcoin prices and lax enforcement hint at a possible policy shift, as BTC trades near $86,100 after a recent decline.

Despite being banned in the country, Bitcoin mining is emerging in China once again. At the end of October, Chinese miners took up 14% of the global mining share, Reuters reported, citing data from Hashrate Index. Four years ago, China’s government banned both cryptocurrency mining and trading, stating that the practice is a threat to the country’s financial stability, as well as its efforts at energy conservation.

However, China seems to be quite lax at enforcing this ban, which the locals are seeing as a subtle hint to get b…

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