Middle East Countries may be miner's new alternative option

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Quote from: YOSHIE on November 09, 2021, 01:23:11 PM

Quote from: Blawpaw on November 04, 2021, 10:42:23 AM

The Chinese mining ban forced bitcoin miners to find new countries to instal their operations and the middle east may turn out to be the best option.

Yes, it may be suitable as you said Saudi Arabia, Dubai and some other countries are the choice for miners.

But what I want to ask the OP is, what date and month news, the ban on miners in China, as far as I know it has become stale news, for miners in China, As far as I know, China currently doesn't care about miners anymore, even though there are shrimp behind a rock.

China is currently busy with digital money (yuan), so they don't care about crypto miners there anymore, we never know about miners there, the strange thing is, the miners don't complain about it, instead the other members on this forum, who enthusiastically complain on the forum, in fact never know the rules are real or not.

As far as I know, the crackdown on Miner was serious and being a country that gags freedom of speech and other forms of freedom, it was easy to believe that China could actually carry out a crackdown on miners there.

There was a spillover effect on the Bitcoin network hash rate if you noticed it during that period of time.

YOSHIE

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Quote from: Blawpaw on November 04, 2021, 10:42:23 AM

The Chinese mining ban forced bitcoin miners to find new countries to instal their operations and the middle east may turn out to be the best option.

Yes, it may be suitable as you said Saudi Arabia, Dubai and some other countries are the choice for miners.

But what I want to ask the OP is, what date and month news, the ban on miners in China, as far as I know it has become stale news, for miners in China, As far as I know, China currently doesn't care about miners anymore, even though there are shrimp behind a rock.

China is currently busy with digital money (yuan), so they don't care about crypto miners there anymore, we never know about miners there, the strange thing is, the miners don't complain about it, instead the other members on this forum, who enthusiastically complain on the forum, in fact never know the rules are real or not.

Blawpaw

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Activity: 1596

Merit: 1027

The Chinese mining ban forced bitcoin miners to find new countries to instal their operations and the middle east may turn out to be the best option.

Saudi Arabia, Dubai, Emirates, and a couple more may turn out to be good spots to transfer your Bitcoin mining activities. Given that the cost of electricity plays out an important role in bitcoin mining, countries where there is a lot of wealth and there are no energy constraints may turn out to be the next aim.

According to an Arcane Research report it looks like, Kuwait is nowadays the country in the world with the cheapest energy cost. The electricity costs for mining 1BTC are about $880, so a new gold rush from mining companies fleeing to this country may be expected.

Topic: Middle East Countries may be miner's new alternative option (Read 109 times)