This news is slowly coming out but over half the Bitcoin miners are Chinese entities!
What would happen if the Chinese Govt took the mining over from the entities: It is a scary possibility and i was made aware of it on a you tube channel that has 200,000 subscribers!
The answer is no!
And the reason for that is pretty simple.
There is a ultimate technological nuclerar weapon the community will use if a serious takeover attempt by a group of miners would happen.
And that's a POW change! Miners know this. And with such a POW change, and an algorithm where miners have no idea which new one would be implemented, they would destroy their whole investment, make all the hardware useless, and probably lose their competitive edge.