How China Secretly Reloaded Its Bitcoin Mining Guns – The Comeback of the Century! 🚀

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Key Takeaways – or How the Dragon Breaths Fire Again

What changed? 🤔

Well, the government decided to turn down the volume on 2021’s hammering. Now, with a slightly softer voice, they found that electricity – cheap and plentiful – is a better drug than bans. Who knew?

What’s next for China’s BTC mining?

boasting a 14% slice of the pie, China might just edge past Russia’s 15.5%, if the trend of stubborn resurrection persists. Because, why not? Even empires fall only to crawl back.

In the Year of Our Lord 2021, the Chinese overlords declared crypto a menace. They cast a ban, citing, as always, the evils of financial chaos and sinister energy hogs. Miners were told to pack their rigs and retreat – some to the wilds, others to the sun-drenched East Asian hinterlands. And, just like that, China disappeared from the top rankings, shrunk to a shadow of its former miner glory. 🔍

Yet, lo and behold! Miners, like stubborn weeds, came crawling back. Today, China holds third place, roaring with 145 EH/s. Russia, with 15.5%, is giving a tentative high five, and Uncle Sam still leads at 37.8% with 389 EH/s. The game continues, but China is back, maybe just to annoy everyone at the top. 😅

What’s fueling this remarkable rebirth? 🔥

According to the wise elders at Reuters, the phoenix’s ashes got a boost from Bitcoin’s bullish 2025 rally and some pro-crypto policies poked out under a certain Trump era. Oh, and cheap electricity and a surplus of computational oomph – because what’s more American than over-invested data centers and government money? 🇺🇸

“Besides higher bitcoin prices, a glut of electricity and computing power following over-investment in data centers by some cash-strapped Chinese local governments fuelled the rebound.” – the wise elders at Reuters

Now, consider this: Bitcoin’s a greedy energy hog, solving puzzles with computers so complex they make rocket science look like child’s play. Regions blessed with cheaper power naturally attracted miners, because, frankly, who wants to burn gold-plated cash on electricity? For the record, Chinese buyers dominated rig sales in 2024, snagging roughly 30% of Canaan’s global revenue – up from a meager 2.2% in 2022. Talk about a glow-up! 💼

Another clue? A 50% jump in Canaan’s sales during Q2 2025. Could the climb from $74k to a staggering $126k in Bitcoin’s price be the secret sauce? Probably. Or just a very lucky coincidence in a world of chaos and greed.

But it’s not all sunshine. The Hashprice Index, tracking miners’ earnings per hashrate, nosedived from $49 to $34 – a sign that the miners’ profits are now on a rollercoaster. The question remains: can they hold on before the chaos erupts? Or will the red dragon burn brighter, fueling the next crypto saga? 🐉

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2025-11-26 10:21