Electronics

According to a report on August 22 by the US "Wall Street Journal" website, at the beginning of this summer, China solemnly announced that it would crack down on cryptocurrency mining. Bit Digital, a NASDAQ-listed company, accelerated its operations and moved more than 20,000 computers out of China. .

According to the report, Bit Digital and other cryptocurrency mining companies are now facing many difficulties because they have to move their machines out of a country that previously accounted for two-thirds of the global Bitcoin mining energy consumption. These machines may be damaged once they are shaken, so packaging and international transportation have become a difficult task. The price of a new computer of this type is approximately $12,000.

According to the report, the entire process may cost millions of dollars. In recent months, due to rising oil prices and poor transportation caused by the new crown epidemic, transportation costs have skyrocketed. Computers entering the United States from China have to pay a 25% tariff. In addition to carefully addressing the packaging and transportation of computers, the company must also find facilities with sufficient power to place these computers.

According to the report, although some companies such as Bit Digital anticipated that China might severely crack down on mining activities and therefore began to relocate their machines at the end of last year, the decision announced in May by Beijing and the subsequent corresponding measures by the local government still caught other companies by surprise.

The report pointed out that Beijing’s latest crackdown measures have triggered what some people call the "mining migration". The background of the introduction of this measure is that the Chinese government has set ambitious goals to reduce coal consumption and shape China’s climate defender. image of.

According to reports, in addition to the United States, Chinese cryptocurrency mining companies are also moving computers to countries such as Kazakhstan and Russia.

Alejandro Delatore, vice president of Binyin Mining Pool, which has been operating in China for a long time, said that he has been looking for a location in the United States and wants to move some of the mining machines from China to the United States to build a large data center.