Topic: Is America the best option? (Read 246 times)

These statistics do not contain Russian IP addresses.
https://bitcointalk.org/myips.php
There are a lot of Russian miners in the telegram, so I only need VPN for this forum.

Bitcoin Mining in Canada: 2022 Recap and Looking Ahead to 2023
2022 was a disappointing year for Bitcoin mining in Canada. Can the industry overcome political and economic headwinds in 2023?
https://hashrateindex.com/blog/bitcoin-mining-in-canada-2022-recap-and-looking-ahead-to-2023/

Since most of the hashes is located in New York and Texas, if these state regulate to the extent of banning crypto mining in large quantities, it will have a huge impact on the cryptocurrency.  Imagine a sudden huge decrease in hash will affect the bitcoin performance since the difficulty needs two weeks to readjust.  During those time it would be hard for the Bitcoin hashrate to solve blocks due to very high difficulty in ratio to the existing hash rate after mining farm in the two state close.

Second it also affect miners since they need to relocate which may result in increase energy consumption and maintenance costs for those miners.  It also affect the economy of the state and employment  of people that works on that sector.  More or less it will have a negative impact on the sector stated if ever the two states implement ban on crypto mining in large quantities.

And when you access Bitcointalk through a VPN how does that look in statistics? Russian IP or German whatever? 
Rather than risk your data not reaching other nodes that fast because of troubles afterward and over which you have no control, you'll switch to having all of it virtually in another country from which on there is no blocking. That's what happening and it has nothing to do with the real activity on the ground, that's also the reason that probably it will take the actual hash rate deployed to double to see even a bump in statistics that rely on IPs.


Banning new farms with over x capacity yes, ban on already running farms that have not happened and probably will never. Besides, those bans were in a place where already the grid was maxed, so despite them getting approval to relocate there was already no cheap energy left.

I don't know how climate affects the amount of dust, but my friends have asics installed in hangars and they use the simplest industrial dust filters. It seems to me that there are more problems with mining in Canada than in the USA.

What you would also need to consider that New York and Texas beginn to regulate or even ban crypto mining in large quantities. So it is good to keep an eye on that before planning to invest in such areas.

I'm just not sure if until now Texas and New york  is still the best place in America with a cheap electricity bill in terms of KWH price. But as far

as I know Canada and Iceland have a cooler environment. There's probably less dust in those areas, the miners are running at a cooler

temperature.

Bitcointalk has been working in Russia through VPN for a long time, but I don't have much difficulty with blocking. Some pools blocked Russian IPs, but they didn't stop working with Russian miners. In Siberia, very large investments are spent on mining, because there is a lot of cheap electricity. I think that at the end of the year mining statistics will change a lot in favor of Russia.

the most crucial will be the energy cost, you need cooling and electricity for you ascii miner
regulation come second , why bother if it's not profitable

In early December, Deputy Energy Minister Pavel Snikkars said that the industry may see a two-fold increase in its share of Russia’s total power consumption in 2022. His department and the Bank of Russia supported a bill designed to regulate cryptocurrency mining but lawmakers postponed the adoption of the draft law for 2023.
Amid High Energy Demand From Miners, Russia Mulls Building New Power Plants in Siberia

   As long as your electricity consumption will be cheap why not, right? But if it's going to be expensive and your electricity bills will go to mining, I think it's useless.

But as long as the climate of a country is cheap and cold, I think you can save on electricity in this scenario. However, it is still better to do some research so that you know which country to mine bitcoin effectively.

The question is, where are you from? Not asking you to answer for privacy reason, but think this by yourself. Even USA is at the top doesn't mean you can just go there and earn a lot. And there are other counties that also have cheap electricity. But in the long run, you can't just get in the country and stay there forever to mine BTC. You need green card for to stay. And if we skip talking about that, then you need to focus on the mining rig. With a good rig, you can mine and compete with others easily. 

That is taken from Cambridge's study:
https://ccaf.io/cbeci/mining_map
and they have a note added for Germany and Ireland


It's highly probable that they don't have even 0.4% combined, Spain which has no need for VPNs and has cheaper electricity is quoted at 0.02%, so a 0.0something is more likely.I would expect the loss of 3 exahash for Russia in the last months to be also influenced by this as lately when I'm letting my VPN randomly select IPs I instantly know when it has switched to a Russian one as it's one website blocked after another.

All the numbers that you will hear above are inaccurate because the calculation of the word “best option” changes from one user to another.

The cost of electricity, although the most important factor, is not the only one in calculating your profits and losses. Your variables are many, for example, but not limited to:

• Electricity cost: If you run an activity that consumes a lot of electricity, you may get much cheaper prices than those sold to the public, and you may get deals that no one else can reach.
• Cooling cost and inconvenience.
• Taxes.
• Mining place.
• Bitcoin price and date your coins were sold.
• Hashrate.
• How to finance the project and whether you have loans that need to be repaid.
• luck.

We will give you averages, but when you start mining, the numbers will be completely different.

Previously China was very pioneer in the mining sector but considering various issues, the Chinese government has banned all activities from Bitcoin mining to Bitcoin.  Among the reasons why the United States is currently leading the mining sector is the fact that the USA has large reserves of electrical power and the amount of electricity required for mining is not a problem for the United States.  Mining in America is still profitable for electricity power consumption, but the scarcity of electricity power in other countries will threaten mining in the future.

Some new Miners moved to America because mining in their country was closed, maybe one of the reasons in this country is that electricity costs are relatively low and they decided to move to that country, and Bitcoin mining in the United States is Legal. besides, miners in the United States already know that they produce more of the highest Hashes;

Top Bitcoin mining countries and the Hashes they generate
  United States: 35.4% (USA topped the list)
  Kazakhstan: 18.1%
  Russia: 11.23%
  Canada: 9.55%

Actually there are also several mines that are not registered from the country.
Maybe in terms of rules, in the future I think the State will make regulations stipulated in the laws of their respective countries for the issue of mining articles.

Apart from the United States, several countries in Asia also facilitate electricity costs that are not so high, and some of them have low electricity costs, but the problem is Bitcoin mining regulations.

I think choosing a mine where electricity costs are relatively low is the best strategy, because this will still be profitable even though the bearish market is in a fixed state, and very profitable if the market is bullrun. if the cost in your country is standard, I don't think this is a problem, it's just that you prepare as much as possible about how to manage it.

I think the best mining place would be anywhere where you can get a cheap deal for electricity.

This can be anywhere in the world really. You don't always have to pay the standard prices if you have a special or unique opportunity.

For standard prices, I reckon it's very competitive.

I like America and that's my dream to go there but regarding Mining equipments I think that Electricity and other such things are very expensive to other countries relatively. And I might say that I will Prefer Canada cause it's cheap and also better and there is more low temperature that is just good for the Mining Machines...
But Despite that I have seen that Still united States is king with most Active miners in the world.and I am also still Impressed that Kazakhstan is in 2nd place and that is just a big milestone.

Based on the average electricity rate in the US it's around 0.1$ for commercial their residential is a bit expensive. However, there are some companies that I think offers cheaper than that you just need to find some legit colocation that offers cheap power.

The US is not the best place if you are looking for cheap electricity rates most of them are in Asian countries like Iran which offers around 4 cents I guess.

America is very cheap yes. are you looking to collocate?

Electricity is expensive in Germany now and a hashrate of 4.48% is a lot. There are a lot of miners in America and they will probably be expelled from the country. In Kazakhstan, a mining license is already required. There is a lot of unregistered mining in Russia, but next year there may be laws. It is better to choose a country where mining is not very developed and the government will not care about you