China returns as 2nd top Bitcoin mining hub despite the crypto ban
China became the second-largest Bitcoin hash rate provider as of January 2022, months after the local government banned all crypto operations in the country,
according to the latest update from the Cambridge Bitcoin Electricity Consumption Index (CBECI) shared with Cointelegraph on Tuesday.
According to the data, Bitcoin miners in China accounted for 21.1% of the total global BTC mining hash rate distribution as of early 2022,
following only the United States, which produced 37.8% of the total hash rate as of January
China was once the world’s largest Bitcoin mining country, with the local BTC hash rate power accounting for more than 75% in 2019.
The hash rate then plummeted to 0% in July and August 2021, following a series of crypto mining farm shutdowns in the country.
China still hosts 21% of the total global Bitcoin hash rate after the local government banned all crypto operations in the country last year.
From September 2021 to January this year, China's contribution to the bitcoin mining network was second only to that of the U.S.