Bitcoin mining recovers in China as the country ranks second in the world in terms of hashrate share – newsquick24

In the context: It appears that China’s crackdown on cryptocurrency mining has not been as effective as its government had hoped. The country’s share of global bitcoin mining operations jumped from zero to nearly a quarter, leaving it second only to the US as the world’s largest bitcoin mining nation. Last October, the US surpassed China for the first time to become the world leader in cryptocurrency mining. The Asian nation has spent months cracking down on cryptocurrencies even more tightly, and even declared all transactions using virtual currency illegal. China’s increasing control over the industry has caused its share…