To be honest we don't really know but one thing that I am sure of when it comes to China's long-term plan is that they are planning to be a dominant country around the world because look at their expansion in Africa and their takeover of Taiwan, Hongkong and other countries in South China Sea.

China's game plan about what?Do you really think that the Chinese government really cares that much about the cryptocurrency mining industry?
Does an elephant care about a flea?
If the hash rate is really dropping and the miners are leaving China,that's great.We will finally stop paying attention to all the FUD coming from China and China will stop "banning" Bitcoin/crypto every week.
China has no benefit and no damage from kicking out all the crypto miners,because the miners influence over the Chinese economy is totally insignificant.
 

Well, they're thinking of it with their own mindset after all, while we're judging them with our own mindset as well. We all know how China is an advocate of pretty much wanting to be in control of literally everything in their country. That made them make the decision of making their own centralized crypto (since they acknowledge the usefulness of blockahin) and stop most actions that are connected to Bitcoin or crypto in general. Or that could just be a ruse, and China actually plays around the price of the market with these announcements intentionally to pump and dump it. Well, I'm more into the former compared to the latter though.

Well, from what I see on Coinwarz chart, it was 191 EH/s in May and it's 89 EH/s today.
https://www.coinwarz.com/mining/bitcoin/hashrate-chart

I don't think see any connections and they don't have the biggest gold reserve in the world I think but they sure have a lot of it. Their game plan is probably to outlast other countries in terms of longevity.

China is one of the leading in developing its own digital money, not sure if it has something to do with why they regulate crypto ever since
Illicit activities are still detrimental; I think they want to have control in every situation.

Maybe the Chinese government believed they have growth in economy even when Bitcoin has not being created, that they can also make it without decentralized currencies. Although, before the Chinese government will think about this, there is no two reason that caused it but their digital Yuan. In my opinion, decentralized currencies would have played better part in Chinese economy, but we know China like to act like they are world of their own, that is why they have their own everything, like socioa media and the likes. Recently, miners (mining machines) are no more expensive in China while the manufacturing companies do not gain like before in such a way some reduced in price by three fold. This is what a centralized government can lead to.

The Bitcoin hash rate reduced almost 60%, I remember there was a time the hashrate gotten to its peak in May, 2021 to over 160E, now it is less than 64E, the hashrate was reduced by over 96E, that is over 60% reduction in hashrate. Although, all might not be linked to the Chinese fud, but the reduction happened at the time.

After 10 years of dominating, the ones left for miners to mine are very few though compare to the ones they've mined before. I think China had already enough of BTC not to mention they own Chinese exchanges.

When manufacturing Chinese company receives USD for exporting products, the Chinese government will buy the USD from the manufacturing companies with Yuan thereby making the value of yuan constantly low as means for manipulating it. I bet they have also done this to the BTC miners which the government also buy the virgin coins.

Good for us, just a minor set back for bitcoin investors, but in the long term it will be good as the monopoly is broken already. Chinese miners could shift to other countries specially those big boys in the game. And then we have some country or huge companies that can take over specially in Europe.


Doesn't matter what their game plan is, as long as bitcoin will survived without them then nothing will change.


Not sure if they still have some aces in their sleeves. But for now, we can't do anything about it. But the affected one are obviously those Chinese crypto enthusiast who have been in this game for so long. They can't do anything about it though, because of the total control of the Chinese government on their people.

In fact, the liquidity of Bitcoin was having a huge impact on the Chinese banking system. Moreover, it is not safe for miners to be in the same place, if they are scattered in different parts of the world, this dominance of mining will be reduced and it is safe for both the parties. Personally, I think such a decision by the Chinese government is good for the future of Bitcoin. Many people have questioned the dominance of the Chinese in mining sector.