What's everyone's take on big companies setting up massive mining centers abroad? Especially in countries like Ethiopia? Seems like more miners could mean lower payouts for everyone else... is that a problem for the future?
If these companies are licensed, then why not? Lots of factors play into it like energy costs and local laws. If I can't mine at home, why not start somewhere else? Just gotta follow the rules.
I read that Russia sells cheap electricity to China, but now they're building a data center in Ethiopia, which is a whole different ball game. They plan to put in a ton of ASICs there, which is a huge investment.
But seriously, if Russia has cheap power, why go through the hassle of setting up abroad? It's costly and risky. Maybe they're just trying to help Ethiopia or looking for tax breaks?
The article mentions a 120 MW data center, but that doesn't mean it's a mining center yet. They say construction starts soon, so let's keep an eye on this.
I know some Russians who want to leave because they don’t like the situation at home, but it’s tough to move. Cryptocurrency is supposed to make money transfer easier, but it’s not always that simple.
That dam they’re building isn’t even done yet, so the electricity output will be limited for a while. I just hope they’re not gonna hog all the local power.
Big mining centers have their pros and cons. Sure, they can bring innovation, but there’s also the risk of centralization and environmental issues. It’s a balancing act.
Companies go to developing nations for a reason: weaker currencies mean cheaper operations. It might cost more to produce power in Ethiopia, but the overall setup can still be cheaper.