I have some experience with communist countries but not with china.
About Bitmain, they might be a “star” and “name” in crypto, but in chinese business i would consider them just a small to medium company. Nothing more, nothing less…
However, i could imagine there are several steps a government could take to make mining not attractive beside just to forbid it. For example:
-
Licenses. Make miners need to obtain licenses with 1001 burdens.
(in communistic countries it’s easy to make someone wait as long as they want for a license) -
Higher electricity prices for certain businesses.
(this is done in many countries anyway, nothing new at all) -
Deconnecting/Disturbing internet connections to national/international mining pools.
(This should be the easiest way in my opinion. They (the chinese) have experience with this. -
Making it illegal to hold crypto.
(This would automaticly put every miner into the illegal zone, very unlikely but still an option with the license options together) -
Force them to use only self generated green energy.
(This could be a very solid, even innovative, one that actually makes even sense.) -
Change or make a tax law putting a very high tax rate for crypto mining.
(From my experience a very popular one in communistic/after-communistic countries) -
1001 other ways IF china’s government really wants to end crypto mining there they will for sure find a way. Having in mind the chinese law enforcement and duration of a sentence it could get real risky for miners there. But everything here is just speculation. But for sure China has way more options than a pure democratic western country, no doubt here.