China's Bitcoin Mining Ban: Potential Consequences on Global Crypto Markets
Wednesday, 22 May 2024, 09:35
China's Bitcoin Mining Ban
China's 2021 ban on Bitcoin mining has caused a sharp decline in the sector's global market share, with a significant impact on institutional interest in Bitcoin.
Key Findings:
- Market Share Drop: China's share of the global mining market plummeted from 46% to 21% post-ban.
- Difficulty Increase: BTC halving in 2024 doubled the mining cost, affecting major players like Marathon Digital and Riot Platforms.
- Potential Reversal: China might seek to reverse the ban but faces challenges due to lingering environmental and financial concerns.
China's Bitcoin mining ban...
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.