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.
Yeah, grabbing a 10years supply of popcorn to see how this will turn out.
So, will the mine be American or Chinese, just like Binance now, is it Chinese or Maltese....
Globalization has once in a thousand times some fun stories.
So we're finally seeing a Chinese company outsourcing work to the US?
Incoming Trump fans in...
In my opinion, they could have found a better location, not only as regards the country in which they built a mining farm, but also in terms of cheaper electric energy. Although the USA is considered a crypto-friendly country in some ways, changes in attitude can occur at any time - especially with Trump as president.
You can easily get right from the grid 5 cents per kwh, probably large deals will go as low as 3-4.
In one of the articles, it mentions they are buying the energy first directly under Ercot supervision so, seeing it's 9 AM in Texas and they have more than 10k MW positive output and reserves of 5700 MW so it makes sense selling it cheap rather than throwing it away, especially since they will have constant consumption, even at night when the difference is close to 20k MW, enough for almost all the Balkans countries.
Anyhow, even with Trump, politics in the US are far more predictable than in China. There are no death squads or re-education camps is you step on the CPC's tail.
Bitmain once went bankrupt during the drop in the value of bitcoin from its ath.
And in what dimension and reality did that happen?
