China once played the most prominent role in Bitcoin mining uncontested, as its access to cheap energy and proximity to leading manufacturers of advanced equipment solidified its position as a leader in global mining. However, the landscape changed drastically when the Chinese government imposed a comprehensive ban on mining operations in 2021. In late September of that year, the People's Bank of China (PBOC) issued an additional decision banning all cryptocurrency transactions, justifying this by its role in facilitating financial crimes and the increasing risks it posed to the Chinese financial system.

Today, despite the government's extensive efforts to completely ban mining activities, many miners have succeeded in continuing their operations in various ways. According to the global hash rate map update released by Luxor for the fourth quarter of 2025, China currently holds about 14.05% of the total computing power of the Bitcoin blockchain, which is approximately 145 EH/s, a slight increase from the recorded 13.8% in the third quarter #MarketRebound #BTC走势分析 #BTC #BTC