China already runs 65% of all bitcoin mining, and this 8% shut down may affect the hash rate somewhat. America, by comparison, mines only 7% of the global supply. So China is by far the world leader, and this makes me very concerned about the safety and particularly the sovereignty of bitcoin in the long term. The CCP wants to rule the world one day and also the bitcoin mining by the looks of it, and that is anything but decentralized or sovereign, in my opinion.

This is very concerning. Why is China run such a big percentage? Is their power cheaper?

Interesting but concerning article. Thank you for writing.