Japanese Bitcoin Mining Just Became More Attractive
About five or six years ago, it was possible to profitably mine Bitcoin using nothing more than a desktop PC. Fast forward to today, and profitability requires huge amounts of hash power and, in turn, a considerable amount of electricity. Of course, unless this electricity is cheap, profitability is difficult to achieve. This has led to markets searching for the most efficient (from a price perspective) regions globally to set up their mining operations.
Historically, China has been a popular choice as have some areas of Eastern Europe
Now, however, the latest region to enter the fray is Japan.
Specifically, a region in northern Japan where the climate is ideally suited to this sorof mining activity.
The region in question is called Kazuno City and it has a population of approximately 32,000. It is located on a mountainous northern prefecture on Japan’s primary island called the Akita Prefecture.
Here's what Japan Today said about the climate:
“The average yearly temperature of Kazuno City is low, probably contributing to improving the heat exhausting/cooling effects to deal with the heat generated by computers for mining… The city has an abundance of renewable energy including geothermal, hydroelectric and wind powers, and its self-sufficiency rate of electricity exceeds 300%.”
According to reports, one company is already making plans to set up an operation in the region and expectations are that many more will follow, lured in by the potential profits rooted in cheap electricity and a cryptocurrency friendly government environment.
The company in question is called Miner Garage. According to, again, Japan Today:
“At the mining center, 600 computers will be installed at first, and they are expected to realize a mining business worth about 300 million yen per year by dealing with about 10 kinds of virtual currencies such as Bitcoin.”
This is just one of many positive developments out of Japan surrounding the concurrency space and it further reinforces the country's efforts to establish a leadership position in this sector.