# What Could the International Crypto Mining Crackdown Mean for North American Miners?

By Industrial Iot · Published 2021-06-30 · Updated 2026-07-23 · Industrial IoT on MarketScale
Canonical: https://www.marketscale.com/industries/industrial-iot/what-could-the-international-crypto-mining-crackdown-mean-for-north-american-miners

> According to MicroStrategy Inc. Chief Executive Officer Michael Saylor, China’s crackdown on cryptocurrencies could become a “trillion-dollar” mistake, and has already brought a windfall to Bitcoin miners in North America. Listen to his thoughts on this and more below.   “it’s a great windfall for North American Bitcoin miners” Host: Let’s talk about the crackdown…

## Key points

- China's cryptocurrency crackdown is projected to be a trillion-dollar mistake.
- North American Bitcoin miners are experiencing increased revenues due to China's exit.
- The market shift allows companies like MicroStrategy to purchase Bitcoin at favorable rates.

According to [MicroStrategy Inc.](https://www.microstrategy.com/en) Chief Executive Officer Michael Saylor, China’s [crackdown](https://www.bloomberg.com/news/articles/2021-06-30/china-s-bitcoin-crackdown-sets-up-record-tweak-to-mining-puzzle) on cryptocurrencies could become a “trillion-dollar” mistake, and has already brought a windfall to Bitcoin miners in North America. Listen to his thoughts on this and more below.

### “it’s a great windfall for North American Bitcoin miners”

Host: Let’s talk about the crackdown in China on bitcoin, on Bitcoin mining. What does this mean for the longer term?

Saylor: Well, China had 50% market share of Bitcoin and they were generating $10 billion a year and a business that was growing 100% a year, year over year. And the government cracked down on it and they eliminated the entire industry out of China. I think that given the growth rate of bitcoin, this will prove to be a trillion dollar mistake for China. So it’s a tragedy for Chinese miners… and so that’s been a big opportunity for Western investors. Companies like mine ([MicroStrategy Inc.](https://www.microstrategy.com/en)) bought Bitcoin in the $30,000 range. We would have paid double, maybe triple to buy the Bitcoin if it hadn’t been for the China exodus. So we got a benefit from that. And it’s a great windfall, Emily, for North American Bitcoin miners, because their costs are the same and they’re going to generate 50% more revenue or 75% more revenue for quite a while because the Chinese industry has been taken offline.

\*Bloomberg contributed to this content

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Tags: bitcoin, Bitcoin Mining, Bloomberg, Crypto Mining, cryptocurrency, MicroStrategy Inc., mining

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