Finland is emerging fast as an attractive place for crypto mining due to its relatively cool climate, which helps with cooling mining rigs, and its abundant renewable energy sources. Finland has a stable political and economic environment, which can be beneficial for long-term investments like crypto mining operations.
Miners in Finland see the country as an attractive location due to the unique situation of near-zero energy costs during periods of overproduction has attracted the bitcoin mining industry to the Nordic region. In 2023, electricity prices in Finland fell below zero due to surging hydropower, nuclear energy, solar, and wind.
Now, I will not anymore be worried just in case the United States of America will one day decide that Bitcoin mining is not anymore permitted to be done within the country due to many reasonsI don't think the u.s. government is going to ban BTC mining, but if they do, BTC hashrate is going to take a hit because most of the network's hashrate is from miners in the u.s.. If this happens, many miners are going to relocate to other regions, and maybe Finland would also be a great option, but you must consider what the laws in that region is like, will the government over there welcome BTC mining with open arms, or will they be hostile to it.
I think the nations who understand the value of it, will all end up investing into mining, even China is trying their best to do whatever they can, it should be important to notice that because if China is going back in, that shows you how important it has to be to do something like this, it must be quite important.
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I think the nations who understand the value of it, will all end up investing into mining, even China is trying their best to do whatever they can, it should be important to notice that because if China is going back in, that shows you how important it has to be to do something like this, it must be quite important.Countries and their government do not invest in BTC mining, they don't have much to gain in doing that, Take note that China already banned BTC mining and they are yet to go back on that. BTC mining pools make profit if they have enough hashrate, but the profit is not enough to entice a country to get involved in mining, especially countries that have a good and stable economy.
I think the nations who understand the value of it, will all end up investing into mining, even China is trying their best to do whatever they can, it should be important to notice that because if China is going back in, that shows you how important it has to be to do something like this, it must be quite important.Countries and their government do not invest in BTC mining, they don't have much to gain in doing that, Take note that China already banned BTC mining and they are yet to go back on that. BTC mining pools make profit if they have enough hashrate, but the profit is not enough to entice a country to get involved in mining, especially countries that have a good and stable economy.
“Wind energy, by nature, is variable and depends on wind conditions. As a result, when wind conditions are favourable, there’s an overproduction of energy, leading to instances where the price of electricity can drop below zero, reaching as low as -0.3€/kWh. Conversely, during periods of low wind, underproduction can occur, causing electricity prices to spike, at times reaching up to 2€/kWh,” said Keinänen.
I read whole news, but this part makes me doubt Finland could be next mining center.Quote from: https://cryptonews.com/exclusives/why-finland-could-be-europes-next-crypto-mining-giant.htm“Wind energy, by nature, is variable and depends on wind conditions. As a result, when wind conditions are favourable, there’s an overproduction of energy, leading to instances where the price of electricity can drop below zero, reaching as low as -0.3€/kWh. Conversely, during periods of low wind, underproduction can occur, causing electricity prices to spike, at times reaching up to 2€/kWh,” said Keinänen.
I wonder how many miners willing to bet that Finland would overproduce most of the time.
Can we then consider Finland to be the ideal location for miners of cryptocurrency today and in years to come?