Evening
Today a major crypto mining pool operated by BIT Mining and owned by Chinese lottery service provider 500.com, announced that it has delivered the first batch of 320 mining machines to Kazakhstan. The first batch with a theoretical maximum total hash rate capacity of 18.2 PH/s is expected to be deployed by by June 27, 2021.
Moreover, a second and third batch consisting of 260 mining machines having maximum total hash rate capacity of 18.2 PH/s is expected to be delivered to Kazakhstan before before July 1, 2021.BIT Mining is one of the worlds leading crypto mining company, with a total deployed theoretical maximum hash rate capacity of 1,031.5 PH/s.
With China showing no signs of slowing the crack down on crypto currencies, country's Bitcoin mining firms are looking to shift their operations overseas to territories with lenient crypto regulations and cheaper power cost.
Kazakhstan with cooler weather and energy cost of around 3 cents per kWh, seems like a nice place for displaced Chinese mining firms to reestablish their operations.
In coming days more and more miners will be moving their mining operations out of China. It would be interesting to see which locations they choose, as some territories are already in motion to lure miners to set up their farms.