[rahimnathwani]

IIRC until recently over 20% of Bitcoin's hashing was performed in China. Spend CNY to buy electricity. Get Bitcoin. Sell Bitcoin for USD.

[csomar]

China had more than 50% of Bitcoin's hashing rate. Most of it probably was to launder CNY out of the country. I suspect there is still some underground mining despite the clampdown. The days of large scale mining seems to be over, though.