Inside a Tibetan Bitcoin Mine: The Race for Cheap Energy
China is a primary driving force in Bitcoin due to its large market share in trading and mining. CoinTelegraph spoke to HaoBTC CMO, Eric Mu, who described what it’s like to work in a newly built bitcoin mine located in the beautiful and rugged mountains of China’s Sichuan region. HaoBTC is headquartered in Beijing, and has a mining subsidiary located in Sichuan. It previously hosted the majority of its miners in two mines in Mabian and Meishan, but has since relocated to a new facility in Kangding, Sichuan, due to the region’s favorable climate and low electricity costs. Located next to a....
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Eric Mu is chief marketing officer at HaoBTC, a bitcoin wallet service. Here he speaks about life at the company's bitcoin mine in the Tibetan mountains. Living three months in a place where you have to travel 10km to reach the closest store might be inconceivable for a modern city dweller. For me however, being face-to-face with nature, plus the chance to witness some sort of modern alchemy, holds irresistible appeal. When the chance came, I didn't hesitate. A four-hour flight and eight-hour drive later, long after I lost count of the tunnels and bridges I passed, I arrived in HaoBTC's....
The very low power rates in Venezuela have created a powerful incentive to mine Bitcoin for a lucky few that have the capital (and dare) to purchase miners and infrastructure in the country. The rise of digital currencies has created a new industry that uses cheap energy and turns it into precious Bitcoin. In other regional news, Axie Infinity, a play-to-earn game, has created opportunities for the less fortunate ones. The country is going digital because of the possibilities these new tools offer.
Cheap Power Creates Mining Opportunities in Venezuela
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KnCMiner has unveiled a new cloud-mining service, offering six-month contracts out of its Arctic bitcoin mine. KnC Cloud, launched on 2nd September, leverages the company's existing data center space in northern Sweden. The so-called Clear Sky mine boasts more than 7 petahashes per second in estimated mining power. KnCMiner said the program will benefit from the cheap cooling and local renewable energy sources afforded by the Arctic Circle. These geographical advantages have led many companies in the bitcoin mining space to look to the Arctic, potentially establishing the region as a key....
One developer, “0xIchigo,” behind Helius, a software company developing infrastructure for users to build on Solana, thinks Solana is winning the energy efficiency race. However, competing platforms, especially Ethereum, are here to stay. Ethereum Is Here To Stay, Solana Is Winning The Energy Efficiency Race Ethereum and Solana aim to serve the same user base, but the […]