Daniel Batten, an environmental analyst on Bitcoin, revealed a striking fact about BTC mining in China.
Batten claims that, contrary to widespread reports, BTC mining has not been officially banned in China, only a temporary suspension.
This finding challenges the dominant narrative, highlighting the resurgence of Bitcoin mining activities in the country.
Bitcoin Mining Was Never Really Banned in China
Daniel Batten's comprehensive report reveals that China's hashrate currently accounts for around 15% of the world's total. This finding challenges common beliefs that came to the fore in May 2021. At the time, major news outlets reported that the Chinese government had dealt a hard blow to cryptocurrency activities.
Temporary Suspension Misinterpretation of the Ban
According to Batten, the sharp 51.1% drop in network hashrate—from 179.2 EH/s to 87.7 EH/s—was misperceived as a full-fledged ban. He compared the incident to a school suspension, stating that the proceedings were temporarily suspended but not completely terminated.
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