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China's Bitcoin Mining Surges Despite Ban, U.S. Warns

12/1/2025

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Summary

Story summary

China's Bitcoin mining market share has risen to 14%–20% of the global hashrate, ranking it third after the United States and Kazakhstan.
The rise is attributed to low electricity prices and excess capacity from AI data centers.
Despite a mining ban, some Chinese provinces tolerate it to utilize surplus energy.
U.S. officials warn about China's growing influence in Bitcoin and urge swift legislation.

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Story summary

China's Bitcoin mining market share has risen to 14%–20% of the global hashrate, ranking it third after the United States and Kazakhstan.
The rise is attributed to low electricity prices and excess capacity from AI data centers.
Despite a mining ban, some Chinese provinces tolerate it to utilize surplus energy.
U.S. officials warn about China's growing influence in Bitcoin and urge swift legislation.