China's Bitcoin Mining Ban: Potential Consequences on Global Crypto Markets

Wednesday, 22 May 2024, 09:35

China's ban on Bitcoin mining in 2021 has significantly impacted the sector's global market share. The country's exclusion from institutional adoption trends raises concerns about its ability to catch up in the future. Despite potential reversals of the ban, lingering issues such as increased mining difficulty and environmental concerns may hinder China's resurgence in the Bitcoin mining space.
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China's Bitcoin Mining Ban: Potential Consequences on Global Crypto Markets

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.


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