- Analytics firms found that China has been steadily gaining significant market share in Bitcoin mining.
- Various sources estimated that the country accounted for 14% to 20% of BTC’s global hashrate as of last month.
Bitcoin (BTC) mining activities in China have recently staged a huge comeback. According to Hashrate Index data covering October 2025, the world’s second-largest economy by gross domestic product (GDP) gradually moved into the top three in the BTC mining rankings, only falling behind the US and Kazakhstan.
China Locks 14% Global Market Share in Bitcoin Mining
The report said that the Asian superpower accounted for 14% of the global hashrate during the period. Cryptoquant had higher estimates, putting the country’s Bitcoin mining market share between 15% to 20%.
The sources attributed the trend to the low electricity prices in the country. Additionally, Bitcoin mining operations got a significant boost from the growing AI (artificial intelligence) data centers in the area, which provide excess capacity and infrastructure that miners could utilize discreetly.
Rising Demand for BTC Mining Rigs
Canaan, a technology company focused on manufacturing Application-Specific Integrated Circuit (ASIC) chips, revealed to the South China Morning Post a significant increase in its chip sales as a result of Bitcoin miners’ rising demand.
Citing a “source with direct knowledge,” the publication claimed that the tech firm’s sales jumped by more than 50%.
Legality of Bitcoin Trading and Mining in China
Despite establishing Hong Kong, its special administrative region, as a crypto hub, mainland China has maintained its restrictive stance on Bitcoin and other digital assets. This includes a ban on BTC and crypto mining, as the People’s Bank of China (PBOC) has reiterated its position against them.
The central bank declared that all virtual currency-related businesses constitute “illegal financial activities” and that crypto is not legal tender. Authorities also pointed out that Bitcoin mining brought little value to the country.
Nonetheless, some energy-rich provinces like Xinjiang and Sichuan have reportedly exercised tolerance over Bitcoin mining to fully utilize excess electricity, which they couldn’t easily transmit to other regions.
Trump Family Recognizes China’s Growing Influence in Bitcoin
Amid the mainland’s ban on Bitcoin mining and trading, the Trump family has always been wary of its growing influence in BTC. A couple of months ago, Eric Trump, the Executive Vice President of The Trump Organization, boldly predicted that the premier crypto asset could balloon to $1 million per coin. He identified China as one of the primary drivers of the trend.
Meanwhile, US President Donald Trump and his allies urged Congress to expedite approval of all pending digital asset legislation. They cautioned that if the US doesn’t get a head start in Bitcoin accumulation, it could risk losing its edge to China and Russia, as both are already aggressively diversifying their treasuries using the asset.
What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
1
+1
0
+1
0
