[burgers]

To add to another reply, the big perk of bitcoin mining is that you can launder your money through the purchase of equipment, real estate and power directly into US Dollars.

It's as that comment said, basically just a way to turn Renminbi into Dollars without the Chinese government knowing about it.

[thedaveoflife]

How long do you think the Chinese government will allow this subversion to continue? It seems like something they would aggressively shut down.

[burgers]

I don't know enough about Chinese politics to be able to reliably comment on their intentions, but buying dollars like this could help push down the price of the Renminbi compared to the Dollar. That has been part of China's economic policy for a long time. Also, when you think about how China is under international pressure to allow the Renminbi to start naturally moving up in value, these types of currency pressures would certainly make a nice way to keep the Renminbi low without having to responsibility for it.