After the ban in 2021, Bitcoin mining activities in China unexpectedly bounced back strongly. According to Hashrate Index, China has returned to the 3rd position in the world, accounting for about 14-20% of the total hashrate.
Sales of mining machines in China have also surged, indicating that mining activities are recovering. Although the government has not lifted the ban, the attitude towards crypto is becoming softer, as evidenced by Hong Kong having stablecoin legislation and China considering the issuance of a stablecoin linked to the Renminbi.#GateChristmasGiveaway #NonfarmPayrollsBeatExpectations #BitcoinPriceWatch $BTC $ETH
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After the ban in 2021, Bitcoin mining activities in China unexpectedly bounced back strongly. According to Hashrate Index, China has returned to the 3rd position in the world, accounting for about 14-20% of the total hashrate.
Sales of mining machines in China have also surged, indicating that mining activities are recovering. Although the government has not lifted the ban, the attitude towards crypto is becoming softer, as evidenced by Hong Kong having stablecoin legislation and China considering the issuance of a stablecoin linked to the Renminbi.#GateChristmasGiveaway #NonfarmPayrollsBeatExpectations #BitcoinPriceWatch $BTC $ETH