The mining ban in China has pushed bitcoin miners to look for new places to set up shop, and the Middle East might just be the ideal choice.
Saudi Arabia, Dubai, and a few other areas could be solid locations for relocating your Bitcoin mining operations. Since electricity costs are crucial in mining, countries with plenty of resources and no energy issues could be the next big target.
An Arcane Research report mentions that Kuwait currently has the lowest energy prices in the world. It costs around $880 to mine a single BTC there, so we might see a new influx of mining firms heading to this country.
Middle Eastern Countries Could Be the Next Hotspot for Miners
2 replies 492 views
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.
bridge_atlasFull Member
Posts: 259 · Reputation: 692
#3Sep 29, 2020, 04:40 PM
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.
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