Crazy Miner? China Returns to the Top Three with #BTC挖矿 , Who is Playing with Danger?

June 2021: A large number of mining farms shut down, causing a significant drop in Bitcoin's hash rate. Some miners moved overseas, to places like the United States and Kazakhstan.

November 2025: Reuters reported that China has once again become the world's third-largest mining center!

But strangely, wasn’t it completely banned four years ago? That's right, at that time the national hash rate plummeted, but according to the latest reports, we have quietly returned to the top three in global hash rate rankings, with these #矿工 directly engaging in trench warfare!

For example, in Sichuan, many hydropower stations appear to be cloud computing and AI computing centers, but once the rainy season arrives, everyone switches on to mine; northwest industrial parks claim to be ‘waste heat recovery’ centers, but secretly they are filled with mining machines roaring; even more outrageous is that now on Douyin there are tutorials teaching you how to hide mining machines in your wardrobe, and even how to use mining machines for heating in winter... Why take the risk? Three words: electricity cost difference. The electricity price in Inner Mongolia is 0.3 yuan per kilowatt-hour, while in Texas, USA it’s 0.9 yuan, and this profit margin is enough to drive people crazy. Who can resist this temptation?

But behind this cat-and-mouse game lies greater risks. Bitcoin is claimed to be “decentralized,” but the return of Chinese miners to the battlefield has led to the concentration of hash power again. What if there’s another policy crackdown? The entire system could be shaken.

So you see, when the red light of the graphics card fades into the night, this is not just a game of chasing profit, but an eternal struggle between good and evil.

And the next mining machine may be quietly operating on the balcony next door, $BTC .