China’s Bitcoin Mining Resurgence Signals Crypto Policy Flexibility

Bitcoin mining has resurfaced in China, defying a ban instituted four years ago. With cheap electricity and a booming data center scene in select provinces, Chinese miners are reviving their operations. This revival comes after Beijing’s ban on cryptocurrency trading and mining in 2021, which prompted a global shift in bitcoin mining dominance. Despite this setback, China now claims the third spot in global Bitcoin mining market share, painting an intriguing picture of the country’s evolving position in the industry. Exploiting their access to affordable electricity, individual and corporate miners are reestablishing their foothold in the crypto market. As exemplified…