The police has seized in Northern China a 600-Mining Computer. The police action goes back to a message, the local power provider, reported a “suspiciously high power consumption”. With the action of the population is positioned richest state in East Asia again is negative with respect to Bitcoin and other crypto-currencies.
Bitcoin Mining can be a profitable affair, especially if you live in a country where the cost of electricity is quite low. According to one study, China is definitely one of these countries, the cost for Bitcoin Mining were there in February, apparently in 3.127 U.S. dollars per Bitcoin. Theoretically, therefore, a worthwhile investment – were it not for the Chinese authorities.
Because, as the Reuters news Agency on may 25. April reports, were confiscated by the Chinese police in North China’s Tianjin 600 Mining-Computer. Furthermore, the authorities found eight fans, for sure, the one used for cooling.
Crypto climate in China unfriendly
In China, a harsh Wind, what are cryptocurrencies and especially their regulatory concerns-blowing in General. After the government had already in the last year, numerous crypto exchanges close, had left many exchanges to Hong Kong, Japan or Singapore. In January, the message came that the Chinese urged the Central Bank to regulate the power consumption for Bitcoin-Miner. In February, rumors were ultimately wide, that they wanted to block access to crypto-Exchange sites. In the same month, the Bank of China filed a Patent, by proposing a possible solution to the scaling debate.
Anyone who considers that to operate a Bitcoin-Mining, you should look more otherwise. According to the above-cited study, especially Venezuela stands out here. With converted cost of 531 USD per Bitcoin Mining is particularly attractive from the rest of the economic situation. Another Option is the Bitcoin-Mining would be in Russian Hotels there you can rent a part of the easy Bitcoin Mining of the providers operate.