China’s Bitcoin Mining Share Rebounds to 14% of Global Hash Rate

Chinese Market Share Rebounds to 14%

According to the latest Hashrate Index’s Global Hashrate Heatmap, China accounts for 14% of global bitcoin mining, making it the world’s third-largest mining hub despite the 2021 ban. China trails behind only the U.S and Russia. Bitcoin mining was banned in China back in 2021. Despite the ban, the current data shows that the industry is thriving. The increase in mining activity is largely attributed to the availability of cheap electricity and a softer policy stance. The regions, such as Xinjiang, are becoming mining hotspots with excess electricity.

Although the Chinese government has yet to withdraw the ban, the administration is pushing digital asset-friendly policies, such as Hong Kong’s stablecoin legislation, and deliberating on yuan-backed stablecoins. It’s also worth noting that China stands only second to the United States in terms of bitcoin holdings. The country reportedly holds 194,000 BTC as of July 2025. Commenting on China’s rise, Pete Rizzo, the Bitcoin historian, said that Asia was turning pro BTC in his post shared on X. 

U.S Leads the Chart in Terms of Market Share

The U.S leads the chart with 37.8% market share and approximately 389 EH/s, while Russia accounts for 15.5% and 160 EH/s. Moreover, the U.S recorded the highest Q/Q gain with 2 full percentage points. The report also noted that countries such as Paraguay, Oman, and Ethiopia are fast emerging as important mining hubs, climbing to the top 10 spots last year. Russia, on the other hand, despite remaining in second spot, has declined its mining market share by more than 1 percentage point. 

Nevertheless, the concentration remains high, with around 68% Bitcoin mining done in the top three countries. Despite the increased mining activity, Bitcoin is currently having a rough run, with its price plunging more than 21% in November, 

How is Bitcoin Faring Now?

Bitcoin is currently trading at around $87,369.86, and the price is slightly up today, with the market cap touching $1.74 trillion. Rebound happened as the token entered the RSI oversold territory and Exchange Traded Funds (ETFs) marked net inflows on Monday. The Fear and Greed Index is also showing signs of cooling off. The traders are now closely monitoring whether the token can reclaim $88k to $90k zone. 

Also Read: Japan Plans New Reserve Rules for Crypto Exchanges to Guard Against Hacks