Overview
- Hashrate Index data cited by multiple reports places China at about 14% of global capacity by October, returning it to the third-largest mining hub.
- Miners describe covert projects in Xinjiang and Sichuan that leverage cheap, surplus electricity and fast-growing data-center buildouts.
- CryptoQuant estimates 15% to 20% of global Bitcoin mining may now be located in China, though precise shares are uncertain.
- Domestic rig demand has rebounded, with Canaan reporting stronger sales in China as higher bitcoin prices and U.S. tariff uncertainty redirect orders.
- Miner economics remain tight as hashprice hit a record low near $34 per PH/s, network hashrate hovers just above one zettahash, and a modest difficulty decline of a little over 2% is projected next.