They will not lose their control over currency without a bloody fight. Governments, and the banks behind them, have unlimited processing power and free electricity too. They are certainly mining. Governments also control the payment systems, the fiat to crypto and back process, and the Internet. For that reason I do not recommend people put too much of their savings into crypto.
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They might have free electricity but most of cryptocurrencies have been created so far because most Bitcoin that will ever be mined have been mine and thus far the vast majority of cryptocurrencies are bound to the price of Bitcoin. Also the other cryptocurrencies which make up the majority of the crypto market cap have also been mined or created.