[2018-05-14] China’s Bitcoin Miners Unwanted in Southeast Asia Too

[lylian]

Southeast Asia is emerging as a new hub of bitcoin mining as Chinese miners swarm to Cambodia, Myanmar and Vietnam because of access to comparatively cheap electricity and geographical proximity. While soon these China’s unwanted bitcoin miners found they are not wanted there too, complaint from local residents, frequent power cuts… Every month sees 9,000-yuan ($1,400) losses, according to Zhang Han, a member of those relocated miners.

China’s huge bitcoin mining industry needs a new home after Beijing’s stringent clampdown on cryptocurrency exchanges since last year. Bitcoin miners are forced to move to other countries – Russia, Iceland, Norway and Canada where hydroelectric energy is abundant with mine-favored climate are attracting a lot interest from large mines; Cambodia, Myanmar and Vietnam thus become an alternative choice for small and medium-sized ones.

Zhang joined the Exodus crossing the border to Southeast Asia six months ago along with many other miners from south China. He chose to relocate his mining farm in a remote town in Cambodia for the low cost and comparably stable Internet connections there...

http://news.8btc.com/chinas-unwanted-bitcoin-miners-move-to-southeast-asia-but-unwanted-there-too

[davis196]

Southeast Asia is a horrible place for crypto mining.I`m wondering how the miners will deal with the heat and how can they cool down the hardware.The electricty supply would be very unstable,as well.
Vietnam isn`t a very crypto-friendly country,they will ban mining,sooner or later.

[Harlot]

You know why they are also unwanted? This South-East Asian countries are being bullied by China with their Nine-Dash line covering even their Exclusive Economical Zone (EEZ), and recently some Chinese tourists got a problem entering Vietnam just by wearing a T-shirt with a drawing of the nine-dash line. These countries are also protecting their own economy and territory from being take advantage by these foreign chinese companies, they must look for their luck elsewhere as they are clearly not welcome to do business there.

[Betwrong]

Quote from the article:

” Zhang said, “It costs almost the same in Cambodia as industrial electricity price in China, 1.3 yuan ($20 cents) per kilowatt-hour (kWh), but you can take advantage of electricity theft from streetlamp facility with the help of some insiders.”

I mean, is this a joke? And if not, shouldn't he go to jail for that? I'm sure jail in Cambodia is no holiday hotel, so I would like to see a comment on that from someone living in Cambodia.

Overall, after reading the article I can see that although mining in Cambodia takes 10-20% less expenses than for that in Vietnam and Thailand, Chinese miners would prefer mining at their home country. That's a pity that Chinese miners are forced to move to other countries because of the Chinese laws, but I'm sure that in nearest future either the laws will be changed or the government.

[aso118]

Why should Chinese miners set up mining farms in South east Asia? Geographic proximity is of no importance in bitcoin mining. Plus if locals experience power cuts, then electricity is unreliable as well. They should look to countries with abundant, cheap and clean electricity like Greenland

[richardsNY]

They should look to countries with abundant, cheap and clean electricity like Greenland

Scandinavian countries are perfect in all aspects for large mining operations, and the best thing of all is the fact that they are genuinely welcome. All other countries are fine with hosting some mining operations, but when more miners plan to locate themselves there it suddenly isn't possible anymore. In case of a state having its own limited power source it's understandable, but in general power suppliers have no problems providing power hungry miners what they want. It's all political nonsense with their environmental standards they don't care about usually, but when it comes to crypto it suddenly becomes a problem....

[darkangel11]

Power cuts and complaints from residents? That's what you get when you set up a facility with a power draw of 200kW in a neighbourhood supplied by a 200kW transformer In some countries the power grids aren't made for industrial use, that's why you can't simply go wherever you like, grab a thick wire and a couple 50A breakers and start mining. Mining isn't unwanted, stupidity is.

[Luminous-Nova]

where is the best place for mining in asia ?!

[stompix]

Why should Chinese miners set up mining farms in South east Asia? Geographic proximity is of no importance in bitcoin mining. Plus if locals experience power cuts, then electricity is unreliable as well. They should look to countries with abundant, cheap and clean electricity like Greenland

Are you sure about that?
First is that Greenland is not really a country as it is part of the Kingdom of Denmark and second that Greenland in burning quite a lot of oil to produce energy.
And remember, the population is only around ~60 000.
A huge mining farm would drain all the available energy.

Power cuts and complaints from residents? That's what you get when you set up a facility with a power draw of 200kW in a neighbourhood supplied by a 200kW transformer In some countries the power grids aren't made for industrial use, that's why you can't simply go wherever you like, grab a thick wire and a couple 50A breakers and start mining. Mining isn't unwanted, stupidity is.

I don't think that in any country is the power grid for residential areas designed to allow a mining farm to use it and I'm surprised we haven't yet heard of an electric company suing miners for the damage to the infrastructure.
Or some news about a neighbor smashing the door of a miner fed up with the power cuts and the noise.
I was a miner myself but if my neighbor would start mining in the flat next to me with some s9 and their aircraft fans I'll probably have a serious crowbar talk with him.