China’s Mining Comeback Just Hit a Wall

[cryptoenthusiast]

Less than a month ago, China quietly reclaimed its spot as the third-largest Bitcoin mining hub, accounting for roughly 14% of global hashrate despite the country’s official 2021 ban. Cheap power and surplus electricity fueled the underground resurgence.

This week’s crackdown changed that overnight. Miners were caught off guard, revenues plunged, and liquidity stress intensified — all while Bitcoin remains about 30% below its October peak and transaction fees stay low.

Because mining underpins Bitcoin’s security and supply dynamics, the disruption adds another layer of pressure. The full impact may not be immediate — but it’s unlikely to be short-lived.

[madmax]

so will btc go up or no?

[JanEmil]

They get greedy and add to many miners. 2-3 miners and nobody would find them.