Because it is the most efficient way to build a reserve of a limited commodity (bitcoin) that has a much longer exponential curve to expand along. Currently, th

Because it is the most efficient way to build a reserve of a limited commodity (bitcoin) that has a much longer exponential curve to expand along. Currently, the Chinese miners are operating as a business to squeeze a margin out of the discounted electricity available in China. It is in China's interests to treat this as a national resource wherein it is produced domestically. My thesis is NOT that they want to control Bitcoin, only the domestic production for their long term national interests. Remember mining will continue until approximately 2140, that is a significant horizon to look at.