btc BTC miners will migrate!

[Dang3r 103]

Will it be the end of Chinese hegemony in btc mining?

 

 Context: Lately the media have raised the possibility that both companies and individuals who are dedicated to mining cryptocurrencies specifically BTC within China, wanted to permanently move their facilities to other locations, because the cost of energy consumption is cheaper  In other countries, in recent months some companies made temporary trial transfers to countries such as Mongolia and the result was favorable.

 Today the BitCluster company announced the construction of the first farm under its signature within the Arctic Circle, which will function as a hotel, that is, the miners rent the space and BitCluster will only take care of the maintenance, some rumors indicate that both individuals and companies such as  Bitmain have already contacted each other and want to get a place for their miners, what do you think?

[Muhammad shakir 23]

Yes yes brother I think this is my great do you thinking then a person posted on crypto talk and other person comment on post this is the migration you're thinking.

[huesca123 946]

Since cooling costs are a major expense of running mining farms, it makes sense to have the mining farm in a cool or cold country. All you have to do is open the windows & instants cool down !!!!! No electric expenses !!!!! Genesis Mining company has a mining farm in Iceland for that very same reason. I wouldnt trust the Chinese government for any reason. They say one thing, do another. They cant be trusted. Who knows if 1 day soon they decide that all private mining farms become public, after all the private investors have spent their money setting it up ?¿?

[Dang3r 103]

14 hours ago, Whited35 said:

Probably not. You know, majority of Bitcoin miners and larger Bitcoin mining farms are still there in China to produce a huge percentage of hashrate

Sure, but if conditions continue to improve outside of China the industry may begin to expand, after all they are companies and profits are a priority, perhaps for now they will not do so but with the new regulations and the conditions to mining it may come true.

[Obliv0n 333]

I read the news months ago that some mining farms located in China planned to change their headquarters due to uncertainty, since mining is not recognized as an industry but at the same time it is, their situation is really strange, so I think it is more logical that they decide to move, especially to cold areas where consumption will be lower and maintenance would not be so expensive.

[ibrahim halil anaç 138]

One of the biggest expenses in mining is electricity. Therefore, mining companies try to reduce mining production costs as much as possible by choosing countries such as Mongolia and Kazakhstan where electricity is very cheap.