China’s share of the global Bitcoin hashrate rose to over 14% in the fourth quarter of 2025, allowing the country to climb to third place in the global cryptocurrency mining rankings. Despite the official ban on mining, activity in this sector is increasing in China, particularly in regions with affordable electricity.
This is reported by Business • Media
China’s Growing Share in Global Mining
According to Hashrate Index, the United States remains the leader in Bitcoin mining, controlling 37.75% of the global hashrate. Russia is in second place with a share of 15.51%, while China occupies the third spot with 14.06%. The recovery of China’s position is supported by cheap energy resources and an excess of computing equipment. After the mining ban in 2021, many companies relocated to other countries, but some miners remained and continue their operations, adapting to the new conditions.
ASIC equipment manufacturer Canaan reported that in 2024, China accounted for 30.3% of the company’s revenue, and in the second quarter of 2025, this figure rose to over 50%. Canaan attributed the increase in demand to its pricing policy and emphasized compliance with all regulatory requirements. At the same time, a significant portion of the equipment is being rented out or sold at substantial discounts due to market oversupply.
Miners’ Reactions and Regulatory Prospects
Several market participants confirmed the activation of miners in China, despite the existing bans. Duke Huang from Sichuan Province noted that many of his acquaintances have returned to cryptocurrency mining, although he himself left this activity after the ban.
“It’s a delicate topic… But those with cheap electricity continue to mine,” he stated.
Another miner from the Xinjiang Autonomous Region mentioned that the surplus of electricity in the area also contributes to the preservation and development of mining. He remains in this sector, and the excess electricity attracts new players.
According to Patrick Grun, CEO of the infrastructure company Perpetuals.com, even hints of a possible easing of regulatory policies could lead to an even greater increase in miners’ activity. Liu Honglin, founder of the law firm Man Kun, believes that it is impossible to completely halt such a large-scale sector, and the rules may become more lenient over time.
It is worth noting that local authorities in China are also involved in the sale of confiscated crypto assets, despite the official ban on such operations.
