Back in July 2021, China banned bitcoin mining in the country. Back then, about 50% of the bitcoin mining was done in China. However, bitcoin mining went to other places.

As it can be seen in blockchain.com and in the following chart, the hash rate, has recovered from the day the China ban occurred.

It took the network about 5 months to recover, which proves its resiliency.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.