China has regained 14% of Bitcoin's hashrate through underground mining.
China is rapidly developing underground mining, which increased its share of the global hashrate to 14% by the end of October 2025. This has once again made the country the third-largest Bitcoin mining center in the world.
It turns out that China's vast energy infrastructure, excess computing power, and informal mining networks are still there. They adapted, reorganized, and waited for favorable market conditions.
One of the main factors driving the resumption of activity has been extremely cheap electricity. In provinces like Xinjiang, production significantly exceeds local demand, and transmission restrictions make it difficult to export the surplus. This surplus is increasingly being absorbed by miners, who may operate discreetly or through semi-formal agreements with local partners.
China's data center boom has also played an unexpected role. Years of overinvestment by local governments has left server farms empty or underutilized. These facilities, equipped with powerful power and cooling systems, are favored by miners seeking to operate discreetly.
Separately, mining equipment maker Canaan Inc. reported that sales in China surged, with the domestic market accounting for more than half of its global revenue in the second quarter.
Источник: cryptocurrency.tech
