Chinese Crackdown Bolsters Bitcoin Mining in Thailand, Bigger Investors Eye Setting Up Operations in Laos

Chinese Crackdown Bolsters Bitcoin Mining in Thailand, Bigger Investors Eye Setting Up Operations in Laos


A crackdown on bitcoin mining by China has led to an increase in the number of Thai investors that have acquired and are operating mining rigs, a report has said. The report adds that many of these investors are currently earning between $30 and $40 per day from each mining rig.

Chinese Crackdown and the Effect on Mining Rig Prices

The number of bitcoin miners in Thailand surged in 2021 after China’s ongoing crackdown on bitcoin mining forced major players in the industry to quit or to ship their equipment to countries with friendlier regulations.

Trending: Vaccine mandates around the world collapse after U.S. Supreme Court decision

As explained in an Aljazeera report, a brief price drop that followed the restrictions made it possible for many smaller investors to acquire the mining gear from the fleeing,

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend