Capping Chinese strengthens Bitcoin Mining in Thailand, larger investors look at the foundation of companies in Laos-Mining Bitcoin messages

Capping Chinese strengthens Bitcoin Mining in Thailand, larger investors look at the foundation of companies in Laos-Mining Bitcoin messages

A hard action against Bitcoin mining by China has led to an increase in the number of Thai investors who have acquired and operated mining rigs, according to a report. The report adds that many of these investors currently earn between $ 30 and $ 40 a day with every mining rig.

Chinese passion and the effects on mining rig prices

The number of Bitcoin-Miner in Thailand rose in 2021 after China's persistent approach to Bitcoin-Mining had forced important actors in the industry to stop or deliver their equipment to countries with friendlier regulations.

As explained in an aljazeera Limits made it possible for many smaller investors to buy mining equipment from the fleeing mining workers based in China. Although the prices for mining rigs have decreased to more than $ 13,000 for each new machine since then, it is believed that the demand for the machines has not subsided.

In order to support the claim that Thai investors are still buying mining equipment, the Pongsakorn Tongtaveenan report quotes a businessman who bought the Antminer SJ19 Pro from miners who flee from China and sells them to local investors. In the report, Tongtaveenan comments on why his compatriots invest in the mine platforms.

he said:

Bitcoin is the gold of the digital world. But a mining rig is like gold mining stocks: you get dividends according to the gold price. There are now about 100,000 Thai miners.

eye for Thai investors mining in Laos

According to the report, some of these miners earn between $ 30 and $ 40 with the operation of the machines. The Chinese raid proved to be an important turning point for others, such as a nameless Bitcoin enthusiast who has become a miner.

"At the moment when China banned Krypto, we were thrilled. I did everything in three months," said the Bergmann, who claims to have used $ 30,000 to boost his solar-powered mining company.

According to reports, larger Thai investors are considering working in the neighboring Laos, which recently awarded six companies mining licenses and where the electricity costs are cheaper. Like other potential investors, Thai investors who want to invest in Laos must meet the initial conditions that include the purchase of electricity worth $ 1 million a year from the Laotian state network and the payment of a high operating fee.

What do you think about this story? Tell us your opinion in the comments below.

Terence Zimwara

Terence Zimwara is an award -winning journalist, author and author in Zimbabwe. He wrote in detail about the economic problems of some African countries and how digital currencies Africans can offer an escape route.












Bedy verification : Shutterstock, Pixabay, Wiki Commons