Cryptographers become nomads. The world has dominated a new unexpected trend

Is the world of cryptocurrencies experiencing the most turbulent period since its outbreak? Chinese minerals are currently at a dead end, as the local government recently imposed a livelihood on their livelihoods. considerable restrictions due to extreme energy consumption. But as he informs Bloomberg, The Chinese are not going to get rid of their mission.

According to the source, at the end of June, several businessmen, miners and investors met in China, driven by frustration with the recent government measures. The aim of the summit was to find an original way to save unintentionally declining business, which costs China considerable effort, both financially and ecologically.

According to the unspecified mineral Alexa, the local authorities can switch off mining stations from day to day without being prompted or given any warning. The tons of hardware are so useless and countless bitcoins can disappear forever, causing these miners to lose their livelihood in a matter of minutes.

One way to keep local businesses afloat is to reallocate all hardware outside of China. Option number one is near Kazakhstan, mainly due to the price of electricity. In extreme cases, this makes up 4/5 of the total operating costs of mining.

Kazakhstan is just as warm a refuge as its climate. This is cold, and thus eliminates both the cost of procuring the refrigeration and its operation. The source states that cooling alone consumes about a third of the total energy costs.

One of the largest companies known in the minigom in Kazakhstan is Enegix, which is building data centers across the country, where hauliers can rent their hardware for a periodic fee. Enegix has acceded to the agreement and will secure an air shipment of 10,000 rigs from China to neighboring Kazakhstan in the near future.

This is a short-sighted solution

Although outsourcing production to a country with cheaper costs and, in particular, absentee restrictions, will solve the problem at least now (and not for every Chinese miner anyway), it is not a sustainable model in the long run.

The country has increased the volume of electricity by only 3 GW in the last 20 years, which in practice means that Kazakhstan can supply only 22 GW of electricity, which is no terno, because as we reported in this article, the energy consumption predictions of Chinese minerals in 2024 were 297 TW, (297,000 GW).

Genesis Mining

This caused that, despite the initially open conditions, the capacities for “external” minerals were immediately filled and the country is turning around at the border for other interested parties.

The impact on the planet is extreme. Although companies are looking to green cryptocurrencies more green, most of them are extracted by burning traditional fossil fuels with black coal on their foreheads. A secondary, but no less important, negative is the drying of the soil around the factories, which is caused by excessive heat. This soil is then practically unusable again.

The globalization of mining rigs is nothing new. In October, more than 30,000 machines were transported from China to North America, followed by a reallocation of the data center to Nebraska. At that time, more than 5,000 units were transported, and this trend intends to continue