China hasn't been exactly crypto-friendly, sending mixed signals for years. But recently, it has been quite straightforward and not friendly towards crypto miners. It started with Inner Mongolia's mining restrictions, but is now spreading to other regions, such as Sichuan.
Nevertheless, it seems that mining is still done predominantly in China. Why is that so?
The first thing that always comes up as an answer is cheap electricity, but is it that cheap and a good enough reason to do business in a country with an authoritarian regime and hostile attitude towards Bitcoin? The electricity rate in China is certainly lower than in most of the EU, but there seem to be tons of countries with even lower electricity rates, some of which seem like viable options for mining farms (Ukraine, Georgia, Turkey etc.). So why is China still the #1 country for miners if there are other options and if China isn't that great?
Topic: If China is so bad for miners, why aren't they moving? - page 3. (Read 402 times)
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