China had been the world's biggest crypto mining country until Beijing banned all cryptocurrency trading and mining in 2021, citing threats to the country's financial stability and energy conservation. After having ​seen its global bitcoin mining market share slump to zero as a result of the ban, China crept back to third place with a 14% share at the end of October, according to Hashrate Index, which tracks bitcoin ‌mining activities. The resurgence in bitcoin mining, which has also been corroborated by rig maker Canaan Inc’s fast-rebounding sales in China, could act as a demand and price support for the world’s largest cryptocurrency.