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China Remains The World’s Largest Bitcoin Mining Hub Despite Crypto Ban

  • Chinese miners continue to control the majority of the world's hash rate for Bitcoin mining despite the country's ban on mining.
  • Chinese mining pools currently control around 55% of the global Bitcoin mining network, while US pools manage 40%.
  • China's dominance in Bitcoin mining comes despite the nationwide ban on mining in 2021, forcing many miners to relocate overseas.
  • There have been rumors that China might lift its ban on Bitcoin in 2024, which could lead to a significant price surge for the cryptocurrency.

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