THELOGICALINDIAN - A crackdown on bitcoin mining by China has led to an access in the cardinal of Thai investors that accept acquired and are operating mining rigs a address has said The address adds that abounding of these investors are currently earning amid 30 and 40 per day from anniversary mining rig
Chinese Crackdown and the Effect on Mining Rig Prices
The cardinal of bitcoin miners in Thailand surged in 2024 afterwards China’s advancing crackdown on bitcoin mining affected above players in the industry to abdicate or to address their accessories to countries with friendlier regulations.
As explained in an Aljazeera report, a abrupt amount bead that followed the restrictions fabricated it accessible for abounding abate investors to access the mining accessory from the fleeing, China-based miners. Although prices of mining rigs accept back alternate to added than $13,000 for anniversary new machine, it’s appropriate that appeal for the machines has not waned.
To abutment the affirmation that Thai investors are still affairs the mining gear, the address quotes Pongsakorn Tongtaveenan, a agent who has been affairs the Antminer SJ19 Pro from miners beat China and affairs these to bounded investors. In the report, Tongtaveenan offers his thoughts as to why his adolescent countrymen are advance in the mining rigs.
He said:
Thai Investors Eye Mining in Laos
According to the report, some of these miners are earning amid $30 and $40 from active the machines. For others, like one bearding bitcoin enthusiast-turned-miner, the Chinese crackdown accepted to be an important axis point.
“The moment China banned crypto, we were ecstatic. I fabricated it all aback in three months,” said the miner who claims to accept acclimated $30,000 to kickstart his solar-powered mining operation.
Meanwhile, bigger Thai investors are reportedly because ambience up operations in adjoining Laos, which afresh gave mining licenses to six companies and area the amount of electricity is cheaper. However, aloof like added abeyant investors, Thai investors that ambition to advance in Laos will accept to accommodated the antecedent agreement which accommodate affairs electricity account $1 actor from the Laotian accompaniment filigree per annum as able-bodied as advantageous a ample operating fee.
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