The Bitcoin exodus has begun; cryptocurrency mining firms relocating to North America following the Chinese Government's new restrictions.

[Redaktion]

One Chinese firm is reportedly relocating to North America after the Chinese Government's new restrictions on cryptocurrencies. It plans on setting up facilities in Texas (USA) and Alberta (Canada). A few other firms have already ceased operations in China following the announcement.

https://www.notebookcheck.net/The-Bitcoin-exodus-has-begun-cryptocurrency-mining-firms-relocating-to-North-America-following-the-Chinese-Government-s-new-restrictions.541227.0.html

[kek]

Hopefully, tighter regulations are introduced in North America as well. It will affect everyone in Texas if one of those mining plants starts consuming a lot of energy, since it will mean energy cost will go up.

[Hanzzz]

0.1629 US$/kWh is not cheap at all. Probably in most European countries the commercial rate is far lower.

[TKay]

The Texas electric market is privatized fully, meaning these mining operations could secure a long term deal for power at a favorable rate. Alberta's also mostly privatized.  Plus, Texas and Alberta both have far-right governments that will do anything for a dollar and don't believe in climate change. At least at the state / provincial level, there will be no government intervention in their earth-destroying enterprise.

[8&8]

0.18€ in Europe

[Jeff Murray]

And exactly how do these folks plan to set up in America?  Cross the Mexico/Texas border as illegal aliens with ruck sacks full of GPUs?

[Mixedfish]

And yet nobody asked the most fundamental question.

Will Crypto even continue being legal in the Us?

They are behind many countries in defining how crypto stands as a security or possibility of challenging the dollar.

With a large unknown why are people moving billion dollar industries into regions that could evaporate their business? This makes no sense.