China’s Bitcoin Mining Market Share Surges to 14%, Ranking Third Globally by October 2025
According to Reuters, China Bitcoin mining has quietly rebounded since the 2021 ban, reaching a 14% global market share by the end of October 2025 and ranking third worldwide. Low electricity costs and data-centre expansion in energy-rich provinces like Xinjiang have attracted both individual and corporate miners back into the sector. Mining-rig maker Canaan reported that over 50% of its Q2 sales came from the Chinese market, underscoring renewed demand. Meanwhile, the implementation of Hong Kong’s stablecoin law and talks of an RMB-backed stablecoin point to a softer regulatory stance. CryptoQuant estimates that 15–20% of global Bitcoin hashrate still operates in China. Industry experts believe that if mining remains profitable, policy restrictions may continue to ease.
Bullish
The revival of China Bitcoin mining and a return to 14% market share signal improving infrastructure and regulatory flexibility. Increased hashrate enhances network security and decentralisation, which is positive for Bitcoin’s long-term health. Renewed demand for mining rigs from Canaan and stablecoin legislation in Hong Kong indicate a more supportive environment for digital assets. While higher mining output could add short-term selling pressure, the overall trend points to stronger ecosystem fundamentals. Past episodes—such as miner exoduses in 2021—led to network slowdowns; this reversal suggests a robust recovery that traders may view as a bullish catalyst for Bitcoin.