[Bitcoin Mining in China Rebounds to Global Third Place with a Market Share of 14% Following the 2021 Ban] According to Reuters, despite China's comprehensive ban on cryptocurrency trading and mining activities in 2021, Bitcoin mining has quietly made a comeback in the country. As of the end of October this year, China's global Bitcoin mining market share has risen to 14%, ranking third. Data from miners and the industry indicate that some energy-rich provinces, due to low electricity costs and the expansion of data centers, have attracted individual and corporate miners back into the mining sector. Analysts point out that China's policy flexibility is evident under economic incentives. Although the government has not officially relaxed mining restrictions, related activities remain active in regions with abundant electricity, such as Xinjiang. Sales data from mining machine manufacturer Canaan also show a significant rebound in demand from the Chinese market, with its sales in China accounting for over 50% of its total revenue in the second quarter of this year. Furthermore, the implementation of Hong Kong's stablecoin legislation and the potential development of a RMB stablecoin suggest a softened stance by China toward digital assets. CryptoQuant estimates that approximately 15%-20% of global Bitcoin mining capacity is currently operating in China. Industry insiders believe that as mining activities become more profitable, related policies may gradually loosen.