Bitcoin Miners in China Defy Crypto Mining Ban, Now Ranked 2nd in BTC Hashrate

Summary: Bitcoin miners based in China now control 21.1% of BTC’s hashrate. China is now ranked second in Bitcoin’s hashrate, hinting at the existence of covert mining facilities. This is despite China’s government reiterating in May 2021 its ban on Bitcoin mining and crypto trading. Due to the ban, the dominance of Bitcoin miners based in China had dropped from almost 50% in May 2021 to 9% in July 2021. China has once again reemerged as a significant contributor to […]