It's hard to know what are their actual plans.
Clean energy was never too high in their priority list. Bitcoin is an easy gateway towards western money they love so much.

My feeling is that they simply play a pump and dump game; it's not the first time they do that. From time to time they make the price fall hard, and in the rest, the price will rise naturally. Between the two, they can earn shitloads of money.
But never forget that it's not (only) China spreading at full power all these news and/or FUD related to China. Many westerners understood this game and play it for their own gains too.


On the long term, all this makes Bitcoin less and less tied to China. This helps both as decentralization and as opposed to the "bitcoin is owned by commies" narrative.