BTC Miners Start Investing Again, Expect Affordable Power

Bitcoin miners located in China have started purchasing used equipment. More importantly, they have already made deals with some hydroelectric plants and mining farms. The idea is to bet on abundant water that is expected to happen come summer, allowing their respective businesses to flourish once again.

Competitive Electricity Costs

According to the official report, during the aforementioned season, there is a significant amount of excess electricity expected to be coming from hundreds of hydropower plants. This is most especially the case in the country’s mountainous south-western provinces positioned in Sichuan and Yunnan.

The level of excess in power has the potential to draw out competitive electricity costs, which are a huge turn on for miners of the world’s leading digital currency. This ultimately makes it among the rarest of opportunities to happen and, thus, could help earn more profits in the current bear market. And considering the fact that it has already affected the mining sector, this definitely arrives in the nick of time.

A company based in the heart of Chengdu in Sichuan called Hashage claimed that the electricity cost in Sichuan whenever summer hits is around $0.037. And this is the only cost expected for the idea of hosting equipment for crypto miners. The company, in particular, is known for owning at least six mining farms and supplies roughly 200,000 slots for machines.

Crypto Mining Interest

The CEO named Xun Zheng said that over the past few months, the company has been successful in performing discussions with individual miners, including larger farms. All in all, according to him, the total demand of time is over one million slots for simply deploying mining chips.

Zheng further added that individual miners alone are seeking for the possibility of hosting between 1,000 and 3,000 units of mining equipment. As for larger farms, they are looking at a much larger scale, which is believed to be tens of thousands of machines.

Despite the exact electricity costs in terms of local hydropower stations has yet to be finalized (expected to happen come end of March), miners have already began seeking resources and negotiating deals with different mining farms. All of these are already taking place right before the season starts, as this could give them the much-needed time to ship equipment directly to mountains. Even more so, they need the space in order to set these machines up.

Zheng said that the interest has always been there. In fact, he can attest that many miners who have shown enthusiasm come from China’s Xinjiang and Inner Mongolia provinces.