After China, in fact, outlawed the mining of cryptocurrencies, large mining companies began the process of transferring their farms from the Middle Kingdom to the United States, Canada, Kazakhstan, and Russia. It started about a month ago, but the process has accelerated after the provinces of Inner Mongolia, Sichuan, and Guangzhou, rich in cheap electricity, outright banned mining, and authorities even began to force power cuts on farms. How the migration of miners occurs – the source writes on the example of one farm.
A logistics company in Guangzhou reportedly transported 3,000 kg of valuable cargo (graphics cards and ASICs) from China to Maryland (USA) by plane. She carried out door-to-door delivery at just over $ 28,000 – including full customs clearance. As you can see, such a “move” costs the cryptocurrency miners a pretty penny, but there are no other options. In the United States, Maryland and Texas are the two most popular states to relocate mining farms from China: they are sparsely populated and have inexpensive electricity. Interestingly, in the United States, this practice has not caused outrage from the public: most see it as a shift in the center of bitcoin mining to their country from abroad.