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Learning & News => News related to Crypto => Topic started by: newshunter on February 15, 2020, 01:01:14 AM

Title: Exclusive: Chinese Group Looking to Buy One of Latin America's Largest Bitcoin Mines
Post by: newshunter on February 15, 2020, 01:01:14 AM

Exclusive: Chinese Group Looking to Buy One of Latin America's Largest Bitcoin Mines

A Chinese group is in talks to buy CoinPY, one of the leading Bitcoin mining firms in Latin America

Source: Exclusive: Chinese Group Looking to Buy One of Latin America's Largest Bitcoin Mines (https://cointelegraph.com/news/exclusive-chinese-group-looking-to-buy-one-of-latin-americas-largest-bitcoin-mines)

Would appreciate your opinion about this

Title: Re: Exclusive: Chinese Group Looking to Buy One of Latin America's Largest Bitcoin Mines
Post by: Senin on February 15, 2020, 04:00:40 PM

There is nothing surprising. Beginning in 2017, bitcoin miners in China began to be massively relocated to other countries, which continued to operate, as the Chinese government began to introduce various restrictions and prohibitions on mining. Only in this case countries with a cool climate were selected, which is convenient for this type of activity, since the costs of cooling equipment are necessary. It was Canada, Belarus, the Scandinavian countries, where there was also friendly legislation for cryptocurrency. Latin America in this regard is too hot in climate.
I was interested in the statement of the representative of this group from China, who said that after dividing bitcoin in half, small bitcoin mining farms would be unprofitable and only large ones would remain. It could very well be. No one will work at a loss.