Bitcoin Miners: Texas is one of the biggest targets of miners who had to leave the country with China’s harsh regulation for cryptocurrency mining. This is because of the green energy opportunities in the state. There is a very important reason behind the coming of China, one of the first countries that come to mind when it comes to crypto money. China sets itself apart from all other countries in cryptocurrency mining by a wide margin. So much so that according to estimates, 65% to 75% of all mining operations in the world are carried out in China. But in the past weeks, the country has announced that it will take drastic measures against cryptocurrency mining.
After this statement, we shared with you that the mining companies in the country started to flee the country. While China does not take any action contrary to its statement, it continues to expel cryptocurrency miners from the country.
The decline in the number of miners became especially noticeable in the Chinese autonomous region of Inner Mongolia. Unable to meet China’s climate goals, the region’s rulers gave Bitcoin miners 2 months to leave the region. Executives cited Bitcoin mining as the main culprit for energy loss.
The best place for cryptocurrency miners leaving China to go is anywhere with low energy costs. One of the possible options in this regard is China’s next-door neighbor, Kazakhstan. Coal mines in the country promise cheap and abundant energy, which attracts the attention of miners.