Wow, that's impressive!

China, 🇨🇳 surprisingly made it back into the top three globally in Bitcoin hash power!

Isn't that a bit outrageous?

You might remember that four years ago, mining was abruptly banned nationwide, hash power was halved, and mining machines fled overseas.

But now?

They are back— and they have returned in a 'covert' 'shadow clone' 'disguise' manner.

On the surface, it's a 'cloud computing center' at a small hydropower station in Sichuan,

but behind the scenes, hundreds of thousands of mining machines are buzzing away;

The industrial park in the northwest has signs saying 'waste heat recovery' and 'green energy',

but when you walk in you'll find—

that's not a factory, that's the heart of a large mining site!

To what extent is it outrageous?

There are people on Douyin teaching you how to hide mining machines in your wardrobe.

Stuff in some soundproofing material, close the door, and outside you won't even hear the wind.

Why are people risking getting caught and still insisting on mining?

Two words—

Electricity! Cost! Difference!

Inner Mongolia: 0.3 yuan per kilowatt-hour

Texas, USA: 0.9 yuan per kilowatt-hour

May I ask: Are miners foolish? Of course not!

You just need to calculate the difference in electricity prices to understand:

If a mining machine is confiscated and you need to pay 200,000? Nonsense! You can break even in three months.

Who can resist this temptation?

But the terrifying part is—

this isn't just a simple game of 'stealing electricity to make money'.

This is something that could shake the very foundation of the entire crypto world.

Why can Bitcoin be secure?

Because hash power is decentralized.

But now with Chinese miners returning, hash power is once again concentrated in the Eastern Hemisphere,

if one day the policies repeat that year's 'king bomb'—

the security of Bitcoin globally might face earthquake-level shocks.

Do you think this is a cat-and-mouse game between miners and regulators?

Wrong.

This is the ultimate game between interests and rules, between good and evil.

When the abandoned factory at night lights up with eerie red light,

when a continuous rumble comes from deep within the hydropower station,

when an inconspicuous wardrobe suddenly heats up—

the next mining machine quietly mining Bitcoin

might... be running on your neighbor's balcony.