China’s Resurgence in the Global Bitcoin Mining Scene
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The Rise of China’s Bitcoin Hashrate in 2025
As of late 2025, China has seen a modest increase in its share of the global Bitcoin hash-rate, representing approximately 14% compared to 13% in the previous quarter. This translates to about 145 exahashes per second (EH/s) of computational power under Chinese influence, according to Luxor’s Global Hashrate Map for the fourth quarter of 2025. This resurgence marks a significant recovery for China after a previous sharp decline due to policy changes in 2021, positioning the country as a key player behind two other leading nations.
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Dominance in Hardware Production and Supply Chains
China’s influence in the Bitcoin mining industry is not limited to hash-rate alone. The country remains a powerhouse in the production of mining hardware. Leading manufacturers such as Bitmain, MicroBT, and Canaan continue to supply equipment worldwide, reinforcing China’s stronghold in the global supply chain. The origin of mining equipment, spare parts, and technical expertise often traces back to China, which keeps the nation’s influence palpable even when the hardware operates abroad.
Shifts in Mining Activity Post-2021 Ban
The 2021 government-imposed crackdown on cryptocurrency mining and exchanges forced many operations to relocate to countries like Kazakhstan and the United States. Some mining entities moved swiftly, while others distributed their fleets across multiple borders. Reports indicate that some operations persisted covertly within China or were managed by owners utilizing overseas subsidiaries. This blend of visible migration and concealed operations complicates the tracking of precise shares.
Current data shows the global cryptocurrency market cap soaring to $3.71 trillion, illustrating the industry’s expansive growth.
Ownership and Ongoing Covert Operations
Despite the regulatory challenges, an estimated 55% to 65% of the global mining capacity can still be linked to Chinese origins when considering hardware production and ownership. Early 2022 data suggested China’s share was around 21% in certain assessments, highlighting the variability in estimates based on methodology and timing. Hashrate snapshots are influenced by factors such as IP allocation, pool membership, and declared ownership, resulting in varying country shares among different groups.
Energy Utilization and Security Implications
Historically, China’s mining operations benefited from inexpensive hydropower in Sichuan and coal resources in northern regions. These energy sources significantly shaped the geographical distribution of mining activities within the country. With the shift of mining rigs to new locations, the energy landscape and carbon footprints vary depending on the host nation.
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