[China's Bitcoin Mining Market Share Restores to Third Place Globally]
On November 24, Hashrate Index data showed that China's Bitcoin mining market share has gradually recovered following the comprehensive ban in 2021, reaching 14% by the end of October and returning to third place globally. A private miner in Xinjiang stated that he conducts mining in areas with abundant electricity, utilizing energy that cannot be transmitted. CryptoQuant estimates that currently, approximately 15%-20% of global Bitcoin hash rate comes from China.