Bitmain will build bitcoin data center in Texas

[Chrystora123]

snip...

Normally it's the US companies that go to China because of the raw materials and the cheap source of labour but now it's totally different maybe this has to do with the Chinese government stance on banning everything crypto related  in their country.

I think this business is different from the business of goods or services conducted by the US and China so far that it requires low material prices and employee salaries.

cheap power is the reason..  but I don't know whether that reason is true or not!!


source: https://www.coindesk.com/why-bitmain-is-building-the-worlds-largest-bitcoin-mine-in-rural-texas

[jarhed]

snip...

Normally it's the US companies that go to China because of the raw materials and the cheap source of labour but now it's totally different maybe this has to do with the Chinese government stance on banning everything crypto related  in their country.

I think this business is different from the business of goods or services conducted by the US and China so far that it requires low material prices and employee salaries.

cheap power is the reason..  but I don't know whether that reason is true or not!!


source: https://www.coindesk.com/why-bitmain-is-building-the-worlds-largest-bitcoin-mine-in-rural-texas

I think that this was most likely done because of the position on the distribution of risks from the business. Bitmain apparently wants to control the network and mining of Bitcoin in all cases, even if China completely prohibits the mining of Bitcoin.

[rijaljun]

Maybe that is another attempt to save themselves from bankrupcy but that still doesn't mean they will succeed. Mining is still profitable for large companies but not that much as before and the question is if they will be able to make enough profit for successful running of business.

It makes sense and also an other opportunity for them to take, Imagine that they will have a successful operation there, means they won't just succeed in avoiding bankruptcy but also become more successful than before.

[Eugenar]

So we're finally seeing a Chinese company outsourcing work to the US?

A Chinese company running a mining operation in the US -- that will put an interesting spin on the whole "China controls the majority of Bitcoin mining" argument.

Normally it's the US companies that go to China because of the raw materials and the cheap source of labour but now it's totally different maybe this has to do with the Chinese government stance on banning everything crypto related  in their country.

basically what is happening is that, china isn't usually outsourcing but they travel directly to the location to start a project. In this case, when china is now coordinating with US, there's seem no good reason why they need to ban their own crypto then outsource. They will just take their advantage away if they ban the worlds future technology.