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China Sees Renewed Bitcoin Production as Miners Skirt Beijing Cryptocurrency Regulations – 24HTECH.ASIA

News Snapshot:

Even with authorities putting a viceroy grip on the cryptocurrency realm in China, Bitcoin miners have remained incredibly active and thorough in underground markets. The crypto crackdown first began in May of last year, at the very height of China’s dominance in the sector. The monthly hash rate throughout most of 2020 sat around 67%. By October 2021, it dipped to 55%, wrought by even more stringent regulation in the form of complete mining and trading bans enacted in Sept. Even so, activity in the Bitcoin mining scene has still remained and is slowly rebounding, even as China continues to…

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