China. Been fighting for Opium - is fighting for Asics

Lebedev

Lebedev

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Jun 26, 2018
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Miners of the China started to buy all the asic miners available, so they either haven't lost their faith in crypto or they want to earn something during the bear trend bitcoin has been going through. The main reason of people buying all the hardware is the rain season in some regions of China which is going to make electricity produced by hydroelectric power station way too cheaper.

This way business that was unprofitable since some time will become more beneficial that it has ever been. Electricity is going to cost so little that even the global bear trend can't affect the situation.

China. Been fighting for Opium - is fighting for Asics

Hundreds of power station situated in the mountain regions of China will be able to produce incredible amount of electricity due to the hard rains ahead. This way, power stations are entering into contracts about fixed supply of power for extra cheap price.

According to the preliminary data price of power during the rain season will be $0,036 for kWh. Despite this information wasn't confirmed by the government, miners are already ready to buy and install thousands of hardware.

Big mining companies aren't going to lose such a profitable opportunity as well, an average farm place around 10,000 asic miners. The major part of asics, however, are in hands of small entrepreneurs who have from one to three thousand miners per person. Taking in count, how cheap asics are these days (used AntMiner S9 can be bought for as little as $150) we can expect even more calculations to be done during the rains.

Some miners, however, claims that even such weather won't be really helpful to make mining profitable if the price is lower than $3000.
 
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