China Update: A small miner on a forum got a call from authorities. They researched his home business and worked out that it did not require as much kWh as he was consuming. They suspected he was #bitcoinmining and will pay him a visit to inspect, ‘with force if needed’. 1/
Underground #bitcoin farms may exist in China, yet they run at great risk and some have trouble with low water levels. Turbines at rural hydroelectric plants cannot run unless more rain comes. Such farms charge up to $0.10 cents per kWh. 2/
Home miners also have difficulties in China, because there is a law that decibel levels in residential areas cannot exceed 55. ASIC machines take around 75 db. Neighbors can report suspected miners to authorities. 3/
Moving overseas has proven difficult for smaller miners. kWh prices go up due to demand, and capacities are shrinking. Some collocation contracts have clauses that machines will be installed within 45-75 days, which may allow farms to run a customer’s units for themselves. 4/
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