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An extraordinary reveal: Mining was never banned in China.
Yes, you read that right. In fact, not only was it not banned, but Chinese miners are leading the world in innovative uses of Bitcoin mining.
But what of this Reuters report and others that says it was banned?
Let’s have a closer look.
Yes, network hashrate dropped from 179.2 EH/s to 87.7 EH/s (a 51.1% drop) seemingly confirming that China banned mining.
After all, China was according to Cambridge 46% of global hashrate the month prior to the “ban” (April 2021). So the figures roughly tally up with the thesis that…
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