Crypto Mining Boom–Too Good to Ignore?

[BlockSavvy]

Picture this: I could lock in a steady electricity rate of just $0.04/kwh, mining crypto in a spot built for it, an industrial zone in Nigeria where they've set aside 2FW of power just for this gig. The buzz is real, partnerships are popping off, the tax breaks are sweet and it's pulling in people from all over the world to this up and coming mining hotspot. Honestly, am I sleeping on what could be the sneakiest good deal in crypto mining right now?

[TomPluz]

Certainly, with a low power rate and with t government not really against this business, it would be a good venture to go to crypto mining business. of course, one has to have some capital in this business as the equipment are not really that cheap. I am glad to see Nigeria really exploring the opportunities in the crypto industry and I am hoping that there can really be mainstream adoption in this country...am just afraid that the government is not so stable in its treatment of the industry as we know in the past. So I am interested to know if there is already an open arms from the government on this aspect...so that maybe I could plan to take a trip to your country and put my own crypto mining outfit in there.

[bitterguy28]

Honestly, am I sleeping on what could be the sneakiest good deal in crypto mining right now?

honestly it does seem like a good deal and if you have the capacity in terms of resources then i think you should definitely go for this before everyone else notice and the spot gets overcrowded before you could even set up a place of your own

Certainly, with a low power rate and with t government not really against this business, it would be a good venture to go to crypto mining business.

so is the government just neutral about the mining sector? i guess it is the closest best you can ask for and it can allow you to continue in this industry but it can be risky because the government can change their mind anytime for the worse

[Stuart]

Certainly, with a low power rate and with t government not really against this business, it would be a good venture to go to crypto mining business. of course, one has to have some capital in this business as the equipment are not really that cheap. I am glad to see Nigeria really exploring the opportunities in the crypto industry and I am hoping that there can really be mainstream adoption in this country...am just afraid that the government is not so stable in its treatment of the industry as we know in the past. So I am interested to know if there is already an open arms from the government on this aspect...so that maybe I could plan to take a trip to your country and put my own crypto mining outfit in there.

This is a welcomed development in Nigeria and to the citizens to make money out of the crypto industry. In every business whatsoever, there is always a need for capital at the start, as the equipment to be used and other materials are needed. A strong Internet connection is a necessity in this case as well.
I only hope the government will not shut it down, as they are never happy to see anything that is good in which can be beneficial to the citizen of the country, where they are not having their own cut from it.

In terms of adoption, the Nigerian citizens/youths of the country has adopted the use, though, still behind the scenes, so as to avoid penalties that might follow for any transactions related to crypto currencies, but for the government, that is where the challenges will rest on. If the government accept to take Bitcoin and crypto currency into use, then the next level of fraudulent acts will commence.

Any open arms of the government to embrace crypto currency in the country by the government will be for self-benefits and not national benefit.