50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Chinese BTC Miners Slow Due to Limited Capacity and Logistics

Published 07/08/2021, 04:06 AM
Updated 07/08/2021, 04:30 AM
© Reuters.  Chinese BTC Miners Slow Due to Limited Capacity and Logistics
BTC/USD
-

  • Several huge Bitcoin miners are leaving China to escape a state crackdown.
  • It will take several months to start operating again for these miners.
  • Miners are currently running into limited data center capacity overseas.

Several huge Bitcoin (BTC) miners are leaving China to escape a state crackdown on all BTC mining activities. According to report, it looks like it will take several months to start operating again for these miners.

Miners are currently running into limited data center capacity overseas and logistical challenges. In fact, data centers from Texas to Siberia crawl to secure space and power/electricity for them.

BitRiver, a data center in Siberia hosting Bitcoin miners plans to build new facilities to meet Chinese demands. Roman Zabuga, BitRiver’s spokesperson shared,

We know companies are leaving China because they are running straight to us.

Of note, Bitcoin mining requires efficient hardwar...

This article was first published on coinquora.com

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.