China’s 2021 Mining Ban Has Failed Spectacularly — Underground Crypto Miners Lift It to Top 3 Mining Hubs Worldwide

China’s Bitcoin mining ban has backfired, with underground miners pushing the country back to nearly 20% of global hashrate. | Credit: Getty Images. Key Takeaways China’s share of global Bitcoin mining has quietly climbed back to 20% despite a 2021 nationwide ban. The country is now the world’s third-largest Bitcoin mining hub again. China joins several countries that attempted blanket crypto bans only to reverse course or regulate after enforcement proved ineffective. When China outlawed Bitcoin ...