I've read that some mining is done at a loss because it's a way of laundering money or exfiltrating money from countries with capital controls. Most large scale

I've read that some mining is done at a loss because it's a way of laundering money or exfiltrating money from countries with capital controls. Most large scale money laundering or exfiltration schemes are costly. A 20%+ before tax haircut is common, and then you usually have to pay taxes unless you want to go down like Al Capone. It's the cost of doing business.