ChainCatcher news, despite China completely banning crypto trading and mining in 2021, Bitcoin mining activities are quietly recovering in China. Data from the Hashrate Index shows that China's Bitcoin mining market share has rebounded from zero after the ban to 14% by the end of October, ranking third globally. Miners mainly utilize cheap electricity and surplus capacity from data centers in energy-rich provinces such as Xinjiang. Mining Rig manufacturer Canaan's sales in China for the second quarter of this year have exceeded 50% of its global revenue.
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