This is obviously right. However, I don´t think that it will deter the big Chinese
mining companies like Bitmain from setting up shop in different jurisdictions
like Switzerland or Canada. The mining business is far too profitable to just quit
after a few setbacks courtesy of the Chinese government.

Besides, the people behind the big mining companies have amassed massive
fortunes and therefore also have the capital that is necessary to work out
all the technical and legal details. Actually I think that this might be beneficial
for the Bitcoin network as a whole, because it will break up the current centralization
of the biggest miners in China.