China has reemerged as the world’s second-largest miner of bitcoin, according to data released on Tuesday by the University of Cambridge, powered by what appears to be operators working without the permission of authorities, reports Nikkei Asia.
China’s share had recently been reduced to zero due to a ban on mining operations, but the Cambridge Center for Alternative Finance (CCAF) estimates that in January the country’s share was 21.1%, second only to the United States’ 37.8%. Third place went to Kazakhstan with 13.2%.
The China’s central bank issued a mining ban in May last year, instructing major financial institutions not to provide transaction services involving cryptocurrencies the next month. Consequently, its global share fell to zero in July and August. But September it popped back up to 22.3% and has been hovering around 20% since then.