China’s Bitcoin Miners are Considering Relocating to Russia, the US, and Thailand

With rumors surrounding the possibility of a nationwide ban on bitcoin mining, Chinese bitcoin miners and mining pool operators have started to consider relocating to other regions with cheap electricity.

In an interview with the South China Morning Post, Chinese miner Cui stated:

“Many of us have already paid visit to Vietnam, Laos, Thailand, Russia and the US, negotiating electricity prices with local authorities and buying sites for future use. The business blueprint is bound to go overseas, even if there’s only a 1 per cent possibility that China’s crackdown against bitcoin would extend to mining.”

Earlier this month, Sichuan Electric Power Company, a county electric grid operator, falsely announced that electricity providers within the region have been banned from providing services to bitcoin miners…

Read Full: China’s Bitcoin Miners are Considering Relocating to Russia, the US, and Thailand – Coinjournal