Create a bundle of all changes
The best way to create a compressed version of a repository is with a bundle. It will be significantly smaller than a tarball or a zip file. To include all revisions, simply specify the null base:
$ hg bundle --base null project.hg
After release 0.9.5 the switch --all was added as an alias to --base null, so you can use hg bundle --all project.hg instead.