China’s Bitcoin Enigma: Why Beijing Is Hiding Its Energy Data

• China has heavily censored information regarding renewable energy generation.
• VanEck executive Matthew Sigel believes that the country is involved in BTC mining.
• CryptoQuant’s CEO revealed that Chinese pools still have a 54% market share.

Beijing’s escalating censorship of economic information, including pressure on foreign media to withhold data, has raised alarms among analysts. The move coincides with China’s concealment of renewable energy figures, prompting speculation that the nation may be secretly engaging in large-scale Bitcoin mining operations.

Further fanning the flames of speculation, CryptoQuant CEO Ki Young Ju pointed out on X (formerly Twitter) that despite China’s official crackdown, Chinese mining pools still maintain a dominant 54% share of the Bitcoin mining market.

Despite China's ban on #Bitcoin mining, Chinese mining pools still hold nearly 54% market share.

While not all participants in these pools are Chinese, some mining farms might still be operating covertly in China, with authorities possibly concealing data. https://t.co/OqEYB5R69w pic.twitter.com/JKCvcj2R3X

— Ki Young Ju (@ki_young_ju) July 1, 2024

Matthew Sigel, head o…

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