Bitcoin mining bounces back in China as country takes second-largest global hashrate share

In context: It appears that China's crackdown on crypto mining hasn't been as effective as its government hoped. The country's share of global Bitcoin mining operations has jumped from zero to almost a quarter, putting it behind only the US as the world's top BTC-mining nation. In October last year, the US [surpassed China](//www.techspot.com/news/91745-us-overtakes-china-first-time-become-global-crypto.html) for the first time to become the global crypto mining leader. The Asian nation had spent months [clamping down](//www.techspot.com/news/89790-china-crypto-crackdown-sees-mining-businesses-end-operations.html) even harder on cryptocurrencies and even declared all transactions using the virtual currency [illegal](//www.techspot.com/news/91409-china-declares-all-cryptocurrency-transactions-illegal-bitcoin-price.html) . China's tightening grip on the industry saw its share of the global…