It’s a tough time for Chinese Bitcoin miners. While the massive restriction operations launched against cryptocurrencies in China caused miners to migrate to other parts of the world, the writings of a miner also revealed the difficulties.
Undoubtedly, China has the most important role in the great decline in the crypto money industry, especially Bitcoin. Especially in May, with the statement of vice president Liu He, “We will do everything to limit mining”, first fossil fuel and then water and mines producing electricity were locked one by one.
As with Bitcoin Miners in Chinese Each country and region has different difficulties
Along with all these developments, miners in China started to migrate to many regions, especially Kazakhstan. According to the news that the 8BTC site, which reports on mining activities in China, is based on a miner from within the industry, different difficulties await miners in every region that is (and will be) followed by China.
According to this miner, after the increase in bans in the country, Chinese bitcoin miners tried to go to other regions a few years ago, but they could not find a country with better or equal conditions than China. That’s why they’re having a hard time going overseas, especially at the moment.
Increasing costs in the US and Canada
According to the miner, the free price of electricity in the USA and Canada is 0.3 cents. However, in these two countries, extra costs such as construction, labor, operational costs, taxes and especially environmental protection standards arise on top of this price. Therefore, the cost is increasing compared to China.
In the Far East, electricity prices are much cheaper, but there is also a fear of local instability here. Although electricity is relatively cheap in Georgia and Kazakhstan, there may be times when the state has difficulties, as in India and Vietnam.
Iran and Africa uncertain…
Malaysia and Thailand, on the other hand, have temperature problems. The ratings are much higher than in other countries. These two countries are behind China in terms of both manpower and administration. As for Iran and the African region, most of the Chinese bitcoin miners have no idea. There are only advertisements and rumors.
As it will be remembered, Fenghua International Express announced that it brought a group of miners to Maryland, USA. A section of mining equipment belonging to BIT Mining was also recently moved to Kazakhstan.Share this article