China Never Banned Bitcoin Mining, Researcher Reveals


In
a
striking
revelation
that
challenges
widely-held
perceptions,
Daniel
Batten,
a
Bitcoin
environmental
impact
analyst,
disclosed
that
BTC
mining
was
never
officially
banned
in
China.
According
to
Batten’s
research,
despite
widespread
reports
to
the
contrary,
the
so-called
“ban”
was
actually
a
temporary
suspension,
and
mining
activities
have
largely
resumed
across
the
country.

Bitcoin
Mining
Was
Never
Banned
In
China

Batten’s

report
highlights
that
the
hashrate
within
China,
which
is
a
measure
of
the
computational
power
used
in
mining
and
processing
Bitcoin,
currently
accounts
for
approximately
15%
of
the
global
total.
This
information
stands
in
stark
contrast
to
the
dominant
narrative
that
emerged
in
May
2021,
when
numerous
major
news
outlets

How To Get Free Crypto  

reported
a
comprehensive
crackdown
on
cryptocurrency
transactions
and
mining
operations
by
the
Chinese
government.

Batten
argues
that
the
drop
in
network
hashrate,
which
fell
from
179.2
EH/s
to
87.7
EH/s—a
51.1%
reduction—was
temporary
and
misinterpreted
as
a
definitive
ban.
“If
you
are
a
disruptive
student,
and
the
principal
sends
you
away
from
school,
those
‘days
absent
from
school’
don’t
mean
you’ve
been
expelled.
It
could
mean
you’ve
merely
been
suspended,”
Batten
explained,
drawing
an
analogy
to
clarify
the

situation
in
China.

Further
investigative
reporting
supports
Batten’s
assertion.
For
instance,
reports
immediately
following
the
“ban”
indicated
that
many
miners
remained
operational
and
unfazed.
CNBC
and
NBC
both
reported
on
ongoing
mining
activities
within
China.
Additionally,
by
December
2021,
mining
activity
had
rebounded
to
19.1%
of
the
global
hashrate,
as
per
Cambridge
data,
signaling
a
significant
recovery.

“We’ve
talked
to
multiple
mining
companies
and
mining
distributers
in
China.
The
message
is
clear:
if
you’re
small,
useful
and
not
using
it
to
get
money
out
of
China,
you’re
welcome.
This
philosophy
has
made
Bitcoin
mining
more
distributed
and
more

clean-energy
based,”
Batten
added.

Innovative
uses
of
Bitcoin
mining
in
China
have
reportedly
included
harvesting
wasted
renewable
energy
and
recycling
heat,
pointing
to
a
more
nuanced
approach
towards
Bitcoin
mining
than
previously
understood.
Batten
also
noted
that
local
provincial
governments
often
actively
support
Bitcoin
mining,
particularly
when
it
involves
small-scale
operations
that
contribute
to
local
energy
solutions
without
attempting
to
circumvent
capital
controls.

Coinbase Banner  

“If
you
have
200-500
miners
and
want
to
do
renewable-energy
mining,
you’re
welcome.
This
is
particularly
in
Inner
Mongolia,
the
Texas
of
China,
which
has
a
lot
of
wasted
renewable
power
they
want
to
monetize,”
Batten
stated
and
added
that
“China
let
back
the
miners
that
served
a
specific
purpose.”

Moreover,
there’s
no
off-grid
coal-based
mining
any
more.
“Mining
is
mostly
hydro,
much
of
which
is
sub-1MW,”
Batten
revealed.
This
is
in
line
with
China’s
commitment
to
achieving
carbon
neutrality
by
2060.
Thus,
the
Bitcoin
mining
“ban”
seems
part
of
a
broader
effort
to
reduce
the
energy
intensity
of
high-consumption
industries.

According
to
Batten,
Western
media
outlets
have
largely
misreported
these
dynamics.
This
misunderstanding
has
perpetuated
a
false
narrative
about
China’s
stance
on
Bitcoin
mining,
which
Batten
aims
to
correct.
Supporting
this
perspective,
Jaran
Mellerud
from
Hashlabs
noted,
“There
are
still
several
big
miners
operating
in
China.
The
local
government
lets
them
operate
as
they
desperately
need
economic
activity
there.”

These
findings
not
only
challenge
the
mainstream
media’s
portrayal
of
China’s
policies
but
also
highlight
a
broader
pattern
of
misinterpretation
and
sensationalism
in
reporting
on
Bitcoin
mining’s
legal
and
regulatory
status
worldwide.

FreeBitcoin Banner  

At
press
time,
BTC
traded
at
$71,227,
up
0.2%
in
the
last
24
hours.

BTC
trades
aboves
$71,000,
1-day
chart
|
Source:

BTCUSD
on
TradingView.com

Featured
image
created
with
DALL·E,
chart
from
TradingView.com

Go to Source
Author: Jake Simmons


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.