Key Insights:
- China becomes the 3rd largest Bitcoin mining country, a major Bitcoin mining news today.
- Bitcoin mining rises amid the AI-driven data center boom.
- Canaan recorded a significant rise in Bitcoin mining rigs’ sales in China.
- Bitcoin price rebounded over the past few days amid Fed rate cut hopes.
Bitcoin mining operations are growing silently in China despite a 2021 ban by the Chinese government. Individual and corporate miners are mining Bitcoin and other crypto amid the AI-driven data center boom.
Four years ago, China dominated Bitcoin mining and operations, as well as sales of mining machines. Now, this latest development has caught the eyes of traders, suggesting that China is still focusing on its BTC mining.
Big Bitcoin Mining News: China Makes a Comeback
China ranks third in Bitcoin mining, accounting for about 14% global hashrate until last month, according to a Reuters report on November 24.
Miners have re-emerged in low-cost, energy-surplus regions like Xinjiang and Sichuan. Hashrate Index, which tracks bitcoin mining activities, showed a rising market share.
Notably, China banned all crypto trading and mining in 2021, citing threats to the country’s financial stability and energy conservation.
Private miners are consuming surplus electricity for crypto mining. New mining projects are also under construction in places where electricity is cheap.
Canaan Plays Crucial Role in Bitcoin Mining Resurgence
Bitcoin mining rig maker Canaan recorded new domestic sales in China. China’s contribution to Canaan’s sales increased more than 50% during Q2 2025.
Recently, Canaan launched its next-generation Avalon A16 series Bitcoin mining machine. The model delivers 300 TH/s at 12.8 J/TH, combining high computing power with industry-leading energy efficiency.
The bitcoin mining rebound in China coincided with Bitcoin price hitting record highs in October amid crypto-friendly regulations globally. Rise in Bitcoin treasury companies.
However, China has not officially relaxed Bitcoin mining and trading curbs. Hong Kong emerged as a favored hub for Chinese miners after the ban, but it seems mining is returning to mainland China amid the AI boom.
As The Coin Republic reported earlier, Japan witnessed a notable rise in Bitcoin mining amid crypto adoption. Canaan secured a 4.5 MW order from a Japan-based utility.
Will Bitcoin Price Rebound?
Resurgence in Bitcoin mining could act as a demand and price support for the world’s largest crypto asset. According to CryptoQuant, China contributes 15%-20% of global Bitcoin mining capacity currently.
At the time of writing, Bitcoin price has held above $86,109 in the past 24 hours. The 24-hour low and high were $85,672 and $88,038, respectively.
Furthermore, trading volume has increased by 56% in the last 24 hours. This indicates massive interest among traders amid a rise in Fed rate cut hopes.
Analyst Michael van de Poppe expects Bitcoin price to close the CME gap at $85.5K and then recover to the 20-day moving average at $95K.
If it fails to reclaim, Bitcoin could see a deeper correction. The key support levels are $75,740, $56,160, and $52,820.