Crypto Miners Are Leaving China for more Viable Locations: Coinshares Report

The recent meltdown in crypto markets has hit the crypto miners real hard and a lot of them have been forced to shut their shops as crypto mining has become unviable. The hardest hit here are miners in China, who are paying a relatively higher cost compared to most countries in the world  Hence, according to Coinshares latest report, to keep their mining rigs alive, miners are supposedly moving from China to countries where power cost is relatively cheaper

Cheap Electricity, fast internet connections, and cooler climates are what miners want

CoinShares, the crypto asset investment and research platform, has recently come out with a new 19-page report titled: “The Bitcoin Mining Network—Trends, Marginal Creation Cost, Electricity Consumption & Sources.” which is the is the second edition of CoinShares bi-annual mining report (the first being released in May 2018). This report puts forward the current situation and changing trends in the crypto mining industry which also includes…

Read Full Story : Coingape

2018-12-01 15:30:10

You Might Be Interested In


Your email address will not be published. Required fields are marked *