China still controls 55% of Bitcoin hashrate despite crypto ban

China remains a major player in the Bitcoin mining industry despite imposing a blanket ban on cryptocurrencies in 2021

Chinese Bitcoin miners still control the lion’s share of the global network despite the country’s ban on cryptocurrencies.

Over 55% of the Bitcoin (BTC) mining network is still controlled by Chinese mining pools, according to Ki Young Ju, the founder and CEO of CryptoQuant.

However, Bitcoin mining dominance is slowly shifting to US mining firms, Ju wrote in a Sept. 23 X post:

China remains a major player in the Bitcoin mining industry despite imposing a blanket ban on cryptocurrencies in 2021
Chinese Bitcoin miners still control the lion’s share of the global network despite the country’s ban on cryptocurrencies.Over 55% of the Bitcoin (BTC) mining network is still controlled by Chinese mining pools, according to Ki Young Ju, the founder and CEO of CryptoQuant.However, Bitcoin mining dominance is slowly shifting to US mining firms, Ju wrote in a Sept. 23 X post:Read more