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After the 2021 ban, Bitcoin mining in China suddenly recovered strongly. According to Hashrate Index, China has returned to the 3rd place in the world, accounting for about 14-20% of the total hashrate. Mining Rig sales in China have also surged, suggesting mining is picking up again. While the government has not lifted the ban, attitudes toward crypto are softening, with Hong Kong now having a stablecoin law and China XEM issuing a stablecoin pegged to the yuan.

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