Highest in 2 Years: 65% of Bitcoin Hash Power Is in China, Report Finds - CoinDesk

Category: Precios BTC y ETH

china largest bitcoin mine

Long in China's Shadow, the US Is Becoming a Bitcoin Mining Power See also: Bitcoin's Mining Difficulty Sees Largest Percentage Drop in 9. World's Largest Bitcoin Mine Lures New Clients to Texas Hotspot of a nearby crypto mine operated by China's Bitmain Technologies Ltd. For all of bitcoin's promise of being the world's first decentralized, peer-to-peer cryptocurrency, 65 percent of the total hash power resides in China. That's the highest in at least two years according to a recent report by CoinShares Research. china largest bitcoin mine

China largest bitcoin mine - sorry

China largest bitcoin mine - casually

Russia’s largest Bitcoin mine turns water into cash

OPEN APP1 min read.Updated: 25 Nov 2019, 12:18 PM ISTJoanna Ossinger , Eric Lam, Bloomberg
  • Power-hungry crypto mining has found an ideal home in the city of Bratsk, where the weather is cold and the electricity is cheap
  • While Russian law doesn’t recognize crypto mining, Bitriver isn’t engaged in mining itself and only provides equipment at the data center and technical services

SINGAPORE, HONG KONG : Bitriver, the largest data center in the former Soviet Union, was opened just a year ago, but has already won clients from all over the world, including the U.S., Japan and China. Most of them mine bitcoins.

The company rents a building near the Bratsk aluminium plant. The world’s single largest aluminum smelter was built by the USSR in 1960s along with the nearby hydropower plant as energy is the largest cost in aluminium smelting.

On top of the power supply, another thing that makes Bratsk an ideal place for crypto is the Siberian climate with its long and cold winters. Low temperatures are good for the data center equipment.

Billionaire Oleg Deripaska’s team came up with the idea of building the data center in Bratsk about five years ago. En+ Group Plc and its unit United Co. Rusal, which the sanctioned businessman used to control, own the Bratsk hydropower and aluminium plants.

While Russian law doesn’t recognize crypto mining, Bitriver isn’t engaged in mining itself and only provides equipment at the data center and technical services, meaning its business is legal.

Deripaska’s companies spent nearly 10 months under sanctions before he reached an agreement with U.S. Treasury to cut his control. The penalties were lifted in January. Continuing sanctions on En+ could have caused troubles for the cryptocurrency miners.

En+ supplies up to 100 megawatts of power to Bitriver per year as a way to diversify its client base and sell excess energy. Cheap and stable power is also a key ingredient for crypto mining. En+ and Bitriver also have a venture that provides computer racks to crypto miners.

Topics
Close

Wait for it…

Log in to our website to save your bookmarks. It'll just take a moment.

Wait for it…

Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.

Congratulations!

You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.

×
Источник: https://www.livemint.com/market/stock-market-news/bitcoin-matches-record-losing-run-in-fall-to-six-month-low-11574660002491.html

By -

3 thoughts on “China largest bitcoin mine”

Leave a Reply

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