What would happen if the Chinese Govt took the mining over from the entities
Who you think that could own the mining farms in China? Private investors?
I'm sure that all of them are owned directly or indirectly by the government members or their friends.
You cannot do that without political backup. Not at that scale. Also just think, many are made near dams for cheap or free power. How else would that be possible?
So what will happen? Nothing!
Because they know that if they do any wrong movement (51% attack for example) they actually hurt their own investment.
they are really intelligent when it comes to handling financial aspects. they are maybe just announcing their total banning figure to cover up those what they are actually up to or should we say what they are already doing right now. i guess for them it is really possible, it might also be rude to say but we knew that most gamblers are formerly chinese and they are also know for that. they are maybe preparing so that when the train runs, they wont be left behind.