Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin Mining => Topic started by: RSRS on July 14, 2021, 05:11:34 PM
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Two weeks after a 15% increase in electricity prices in Turkey, a new store selling professional mining equipment has opened its doors in Istanbul —the business hub of the country— on July 13.
Opening a mining equipment shop in a country with costly electricity seems counterintuitive. But Phoenix Store, Bitmain’s sales partner in the Middle East, did the math before opening its second store within the region. Phoenix CEO Phil Harvey explained that their primary goal with the Istanbul store is to educate Turkey’s crypto-friendly population about crypto mining. Then, customers can purchase mining equipment and hosting services that would operate in Canada, United States or Russia. Mining in Turkey is simply not feasible.
“It’s like you want to invest in gold mining,” he said, “You can come here and invest in a gold mine, but it’s not going to be in the back garden. It’s going to be outside.”
Cointelegraph Turkey sat down with Phil Harvey after his presentation to learn more about the crypto mining landscape in the aftermath of China’s crackdown on mining operations.
“China needs to maintain its current growth for the projects in the country,” Harvey started, detailing the crackdown. The country is required to improve several areas, such as reducing carbon footprint, to get funding from the IMF or World Bank:
Sourch (https://cryptonews.net/en/news/mining/1056513/)