• Regardless of the nationwide ban, China at the moment accounts for 14% of the world’s Bitcoin mining, powered by low-cost electrical energy.
• Mining {hardware} gross sales in China have skyrocketed, with Canaan reporting as much as 50% of its income in Q2 2025 from native consumers.
• After the latest decline, BTC is buying and selling close to $86,100, and rising Bitcoin costs and unfastened execution recommend a attainable coverage change.

Bitcoin mining is on the rise once more in China, regardless of being banned domestically. As of the tip of October, Chinese language miners accounted for 14% of the world’s mining share, Reuters reported, citing Hashrate Index information. 4 years in the past, the Chinese language authorities banned each cryptocurrency mining and buying and selling, citing the apply as a risk to the nation’s monetary stability and vitality conservation efforts.

Nevertheless, China seems to be fairly lax in implementing the ban, and locals see it as a delicate trace to a return to the sport. Because of this, they’re more and more buying new tools and putting in new mining amenities.

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China’s altering perspective in the direction of Bitcoin mining

The information shared by Hashrate Index is backed by details about the expansion in gross sales of Bitcoin mining {hardware}. Canaan, one of many world’s largest mining tools producers, earned 30.3% of its international income from China final yr. When the ban first took impact three years in the past, it was 2.8%, a rise of greater than 10 instances.

Within the second quarter of 2025, Canaan earned much more income from Chinese language consumers (about 50%). Nevertheless, this data was shared anonymously and has not but been verified by the {hardware} producer.

The corporate mentioned there was a “delicate shift” in China’s perspective in the direction of digital property, suggesting that this could possibly be due, no less than partly, to the rising worth of Bitcoin, in addition to the uncertainty of US tariffs which have hampered US gross sales. All these elements have made asset mining enticing once more.

“Plenty of vitality can’t be exported from Xinjiang, so it’s consumed within the type of cryptocurrency mining,” one miner instructed Reuters. “New mining tasks are being constructed. What I can let you know is that individuals are mining the place electrical energy is cheaper.”

If China is certainly getting ready to raise its mining ban, it could possibly be the catalyst Bitcoin must rally after experiencing a 30% drop in latest weeks. The preferred cryptocurrency has fallen since hitting an all-time excessive of round $125,000 in early October. As of this writing, it’s buying and selling at round $86,100.

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