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Experts doubt China will lift bitcoin mining ban despite uptick and excess energy supply

China’s oversupply rate of solar energy in some regions has exceeded 10 per cent while that of wind energy has reached up to 15 per cent

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China’s bitcoin mining market share by hash rate rose from 13.75 per cent in the first quarter of 2025 to 14.06 per cent in the current quarter. Photo: Shutterstock Images
Xinmei Shen
A mild uptick in bitcoin mining in China has prompted calls for Beijing to loosen its restrictions and let the power-hungry industry tap into the country’s oversupply of energy, but experts said the likelihood of China ending its mining ban was low.

China’s bitcoin mining market share by hash rate rose from 13.75 per cent in the first quarter of 2025 to 14.06 per cent in the current quarter, making it the third largest bitcoin mining country behind the US and Russia, according to Hashrate Index, a data platform operated by US bitcoin mining firm Luxor Technology.

The Hashrate Index did not disclose market share by country before this year. China’s hash rate plunged to zero in July 2021, two months after Beijing vowed to crack down on bitcoin mining, according to 2021 data by the Cambridge Bitcoin Electricity Consumption Index (CBECI).

Hash rate is a unit of measure for the bitcoin network’s processing power for verifying transactions and mining new cryptocurrency tokens. CBECI mining map data showed that China’s bitcoin mining market share had already bounced back to 22.29 per cent by September 2021. The organisation stopped updating its map data in February 2022.

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