According to the US Geological Survey and IEA data, China mined approximately 270,000 metric tonnes of rare earths in 2024, representing 69% of global production and nearly tripling its output since 2014. With about 90% of the world's refining capacity, China is the main hub for transforming rare earths into usable materials. The US, by comparison, produced only 45,000 tonnes, making it heavily reliant on Chinese supply chains. For crypto traders, this concentration of rare earths supply and refining in China has significant implications for blockchain hardware manufacturers, potentially affecting mining equipment costs, token production dynamics, and supply chain resilience for projects dependent on advanced electronics (Source: US Geological Survey, IEA).