Bitcoin
Bitcoin Miners Move Operations to Southeast Asia Amid China Crypto Ban
According to a recent report from Bloomberg, the Bitcoin mining industry is moving to Southeast Asia after China banned it in 2021. Miners who were forced to shut down operations in China are now setting up shop in unexpected locations across the world. region, from abandoned industrial sites to old factories.
One example is Bityou, a mining company located in Tanjung Manis, Sarawak, Malaysia. Founder Peter Lim had to abandon his old location, which is home to a 10,000-rig, 20-megawatt operation in China.
Most companies have already left this industrial park. We decided to take advantage of these abandoned resources.
He said Lim.
Southeast Asia’s appeal for Bitcoin miners lies in its reasonably priced electricity, skilled workers, and existing infrastructure. Interest in the region is increasing rapidly, with Malaysia contributing 2.5% of the global hashrate.
However, setting up operations is not always straightforward. Miners often face regulatory challenges, power supply issues and even police raids for illegal electricity use. Despite these challenges, significant growth is expected in both mining and manufacturing in the region.
“Southeast Asia is poised to take off in the coming years,” said Taras Kulyk, founder and CEO of SunnySide Digital, a data center hardware distributor.
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