China Ignores Mining Ban, Accounts for 14% of Global Hashrate: Fuels Bitcoin Hyper
PositiveCryptocurrency
- China has quietly regained approximately 14% of the global Bitcoin hashrate, indicating a resurgence in its mining activities despite an ongoing ban. This development highlights the country's ability to leverage low-cost power and unused data centers to maintain a significant presence in the cryptocurrency market.
- The reemergence of China as a major player in Bitcoin mining underscores the resilience of Bitcoin as a macro asset, suggesting that institutional interest remains strong despite regulatory challenges. This could bolster confidence among investors and miners alike.
- The situation reflects broader trends in the cryptocurrency market, where fluctuations in demand and regulatory environments continue to shape investor sentiment. The interplay between mining costs, market dynamics, and institutional strategies may influence future Bitcoin price movements and overall market stability.
— via World Pulse Now AI Editorial System
