The Best Places In The World To Mine Bitcoin
Deep in China’s Sichuan mountains, miners are chipping away at complex mathematical puzzles in hopes of unlocking one of today’s most prized assets, BITCOIN . Currently, more than 60 percent of all BITCOIN is mined in China, and these miners have picked their location wisely. The remote Sichuan mountains enjoy a cool year-round temperature and cheap electricity provided by small-scale hydro-electric facilities, averaging from $0.05 to $0.08-cents per kWh. Recent rumors, however, suggest that this could all come crashing down. First reported on Reuters , the People’s Bank of China outlined a plan behind closed doors aiming to curb the high energy consumption associated with BITCOIN mining in the country. The source told Reuters that the PBoC is aiming to force the hand of local governments to limit the miners’ electricity in order to gradually scale back the industry’s energy consumption. It is important to note that a separate source has since denied the...