Heard that a Chinese company shipped 300 Bitcoin miners to Kazakhstan after shutting down in Sichuan. And they’ve got 2000 more on the way... seems like a big deal.
Chinese Miners Head to Kazakhstan: What’s Next?
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Not sure this is great honestly. Sichuan had hydropower, which is renewable. Kazakhstan uses a lot of coal. That’s a step backwards for the energy mix.
5tack_moonNewbie
Posts: 84 · Reputation: 29
#3Sep 24, 2020, 04:48 AM
I called this back in April. Kazakhstan was my pick cheap electricity and close to China. Next might be Kyrgyzstan, Tajikistan, or places in South America. Expect stricter regulations soon.
its_walletMember
Posts: 147 · Reputation: 161
#4Sep 24, 2020, 08:43 AM
Not good! Chinese miners back in the game? Doesn’t matter where they are, they’ll still be under Chinese control. It'll shake up the market but might be a plus in the long run.
Honestly, I don’t see the issue. Coal power is legal there. If we’re worried about carbon footprints, let’s get the big polluters like Saudi and China to cut back first.
You say 'we'? Who are you talking about? Bitcoin is neutral and shouldn't be controlled based on opinions. Miners should be able to operate freely.
Moving mining companies seems like a temporary fix. Kazakh government stability is questionable. They could ban mining next year.
atomickingNewbie
Posts: 16 · Reputation: 33
#8Sep 26, 2020, 05:28 PM
Finally! Companies leaving China for better conditions elsewhere. It’s about time because crypto policies in China are all over the place.
If China won’t support bitcoin, then this shift is a win for adoption. Kazakhstan needs solid regulations to really capitalize on this.
just_bridgeMember
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#10Sep 28, 2020, 05:31 AM
I read an article where Chinese miners were asking ASIC manufacturers about places to move, with Texas and Kazakhstan being top picks. Cheap power and lenient regulations.
So BIT Mining shipped 320 machines to Kazakhstan after their Sichuan site got shut down. Plus, they have more coming. I wonder if they’ll set up shop in Texas too.
Seems like they’ve partnered with others, limiting their control over mining operations. It’s not fair to generalize them, they’re not all the same.
tony_4tl4sMember
Posts: 286 · Reputation: 84
#13Sep 28, 2020, 01:12 PM
Bottom line, are you trying to act like the Chinese government? You want to approve who can mine based on some social score? That’s just wrong.
Right? It’s a free market, anyone should be able to mine if they have the means. Your comments come off as pretty biased.
Not about hating Chinese miners, it’s more about Bitmain’s crazy influence over the whole mining scene. They control way too much.
token_laserMember
Posts: 145 · Reputation: 208
#16Sep 28, 2020, 11:55 PM
But that influence came from the mining community itself. People just chose to buy their gear, even when it was unreliable.
True, coal isn’t ideal. If word gets out, big players like Elon might back off from accepting bitcoin again.
The CEO of BIT Mining claimed they’re committed to lowering their carbon footprint and expanding responsibly. Not sure if I buy it.
ben.matrixNewbie
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#19Sep 29, 2020, 09:09 AM
Heard around 88% of Kazakhstan’s energy is from burning minerals. Hydropower makes up the rest, but it’s not a clean solution either.
ben.matrixNewbie
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#20Sep 29, 2020, 09:35 AM
China has loads of water resources while remote areas aren’t electrified. They’re pushing for more private hydropower plants, which has its own issues.