Bitcoin miners have blunt response to China's manufacturing dominance

China controls 99% of Bitcoin mining hardware, yet the real threat isn't Chinese dominance—it’s the AI industry. The single point of failure for Bitcoin lies at the foundries, where deep-pocketed AI and HPC clients are outbidding miners for chip allocation. While a total supply shock from China would be absorbed gracefully by the network, losing the foundry war to AI could be fatal for mining competitiveness. Is AI actually the biggest existential threat to Bitcoin?
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