Average monthly share of the global hashrate in China 2019-2022
As of January 2022, Chinese crypto mining activities accounted for around 21 percent of the global hash rate. In the cryptocurrency industry, the hash rate describes how many calculations can be performed per second. From the chart, it becomes obvious that mining operations were seized in July and August of 2021 after the Chinese government announced its ban on cryptocurrencies. However, after two months of keeping a low profile, Chinese miners resumed their operations.