sichuan miners
Chinese Bitcoin Miners Migrate North After Wet Season
October 10, 2019
sichuan miners
Chinese Bitcoin Miners Migrate North After Wet Season
October 10, 2019

Chinese miners are migrating to the north to access cheap thermal and wind power after the wet season in Sichuan.

Migrating For Cheaper Electricity

Miners are migrating to Xinjiang and other regions located in Inner Mongolia for cheaper electricity rates.

According to a local news publication, the wet season in Sichuan starts in April while ending at the end of October.

‘During the wet season, miners can get an astounding 0.08 yuan per kWh or $0.01 per kWh.’

When the season ends, small farmers move northbound for inexpensive electrical rates.

Mining Machine Exceed Mining Camps

Columnist Vincent He writes that the number of mining machines “exceeds the upper limit of mining camps in Northern China, and some of them may be abandoned.”

Vincent adds that millions of mining machines will be moved in a short period of time while stating that many companies in the Southern province of China are already moving.

ALSO READ :  $1.1 Billion BTC Transaction Charged Only For $0.68 On Bitfinex

“The 1,000 mining machines I have were previously hosted in one mining camp,” a miner detailed to Vincent. “This year, the mining camp told me that there were not enough seats — So I have to host some of them at another mining camp, which undoubtedly increased the difficulty of management for me.”

Mining Crackdown

The governments of Xinjiang and Inner Mongolia have been cracking down on mining operations and the officials have “curbed the scale of the local mining industry.”

The autonomous province of Inner Mongolia issued a “notice on checking and rectifying virtual currency mining”. The notice demands removal “of the province’s crypto mining enterprises”.

Source: | Image: Shutterstock


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.