Wow, what a mess—🇨🇳 China has stealthily returned to the top three in global Bitcoin hash rate!

You didn't misread it; it's the same China that was cut off four years ago, with all mining machines moving overseas, now quietly coming back, and in increasingly bizarre ways.

On the surface, you see a certain 'cloud computing center' in Sichuan,

but once you step inside, you'll hear hundreds of thousands of mining machines buzzing together;

In the northwest industrial park, signs say 'green energy' and 'waste heat recovery',

yet inside, it's not a factory at all, but the heart of a large mining site!

Some even hide mining machines in wardrobes, stuffing them with soundproofing material and closing the doors, making the outside as quiet as a library.

Why are people willing to take risks?

Three words: Electricity! Price! Difference!

Inner Mongolia 0.3 yuan per kilowatt-hour VS Texas, USA 0.9 yuan per kilowatt-hour,

with such a price difference, how can miners not go crazy?

A mining machine being confiscated costs 200,000?

What a joke! It can recoup costs in three months. Who can resist such temptation?

But the real danger isn't these 'private operations'.

It's that hash power is again concentrating in the Eastern Hemisphere, re-establishing the foundation of Bitcoin's decentralization.

If one day policies come down with another 'big strike', global BTC security will tremble.

Do you think this is a cat-and-mouse game of miners stealing electricity and regulators catching them?

No, this is already the ultimate confrontation between interests and rules.

When abandoned factories light up with red lights at midnight,

when a continuous roar comes from deep within a hydroelectric station,

when your neighbor's wardrobe suddenly starts to heat up—

the next mining machine secretly mining BTC might very well be running in your neighbor's house.

Follow Leo Chain's little N, hit the three buttons in one click, and capture web3 intelligence at the first moment.