Bitcoin

China remains a significant force in Bitcoin mining, even after its 2021 ban on crypto mining. Data from <a href="https://cryptoquant.com/sign-in?next&#61;%2Fanalytics%2Fquery%2F66f1162042286374a37c561e%3Fv%3D66f1162bac366b2d76facbe0" rel="noopener noreferrer nofollow">CryptoQuant</a> shows that China still holds 55% of the global Bitcoin hashrate. Although its market share has decreased as many miners relocated following the government’s crackdown, China continues to dominate the Bitcoin mining scene.Other Countries Step UpAs China&#39;s Bitcoin mining dominance drops, other countries are gaining ground. The U.S., Kazakhstan, and Russia have ramped up mining efforts. In an X post on Monday, Ki Young Ju, CEO of CryptoQuant, noted that U.S. mining pools are steadily rising. American miners usually operate at an institutional level, while Chinese miners work on a smaller, independent scale.Formerly critical of cryptocurrencies, presidential candidate Donald Trump shifted his stance and endorsed Bitcoin. Trump has even proposed using Bitcoin to pay back part of the <a href="https://eu.usatoday.com/story/news/politics/elections/2024/07/28/donald-trump-crypto-bitcoin-2024/74578728007/" rel="noopener noreferrer nofollow">United States debt</a> and has not ruled out holding BTC. This possible policy change has raised questions about whether China should reverse its position on cryptocurrency.<a href="https://cryptotale.org/china-dominates-bitcoin-mining-despite-2021-crypto-ban/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

China Dominates Bitcoin Mining Despite 2021 Crypto Ban

CryptoTale

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