RATE Group | Chinese Bitcoin Miners Migrate North After Wet Season
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Chinese Bitcoin Miners Migrate North After Wet Season

10 Oct Chinese Bitcoin Miners Migrate North After Wet Season

Posted at 05:54h in Bitcoin News by

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Chinese Bitcoin Miners Migrate North After Wet Season

A China-based crypto news outlet recently published a comprehensive report on the costs associated with building a digital currency mining farm in China. Additionally, the local publication revealed that Chinese miners are starting to migrate north to access cheap thermal power and wind power after the wet season in Sichuan.

Also read: RBI Ban Stops Indian Police From Cashing Out Seized Crypto

Chinese Miners Begin to Migrate

Chinese miners are migrating to Xinjiang and other regions located in Inner Mongolia in order to capture cheaper electricity rates. According to the local Chinese publication, 8btc, the wet season in Sichuan started in April, but usually stops at the end of October. During the wet season, miners can get an astounding 0.08 yuan per kWh or $0.01 per kWh. But when the season ends lots of small farms that are able to move travel to northbound for inexpensive electrical rates.

Chinese Bitcoin Miners Migrate North After Wet Season
During the wet season in Sichuan, miners can get roughly 0.08 yuan…

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