To add something informative to the conversation ...
The reason that the big bitcoin farmers are located in China is that the power generation model is different in China than the West.
China is controlled by about 8 Dragon Families in concert with the CCP (you'll notice that in news stories the prominent actors all descended from Maoist leaders, etc.)
So if you're a bitcoin miner, you just talk to the Dragon Family in charge of power generation (for example, one family owns the Three Gorges Dam profit stream, plus most other dams), and hook up to a hydroelectric dam. No published electricity rates for you.
The above also explains why the arrest of the Huawei CFO in Canada is such a big deal in China - she is royalty, and the West is treating her like a common peasant.
Love the bitcoin submarine. lol.
To add something informative to the conversation ...
The reason that the big bitcoin farmers are located in China is that the power generation model is different in China than the West.
China is controlled by about 8 Dragon Families in concert with the CCP (you'll notice that in news stories the prominent actors all descended from Maoist leaders, etc.)
So if you're a bitcoin miner, you just talk to the Dragon Family in charge of power generation (for example, one family owns the Three Gorges Dam profit stream, plus most other dams), and hook up to a hydroelectric dam. No published electricity rates for you.
The above also explains why the arrest of the Huawei CFO in Canada is such a big deal in China - she is royalty, and the West is treating her like a common peasant.