Bitcoin mining

Bitcoin mining slush headquarters

12.10.2018

BitFury has most of its hardware running in Georgia, and Bitfury is at 2. There are no pools that definitely point towards the USA and Venezueland having lots of hash power, but it is known that there is decent mining activity in these countries.

About Slush Pool

This tremendous surge in popularity of bitcoin and other cryptocurrencies has attracted significant attention from governments, regulators, and lawmakers. They were given two weeks ultimatum to do so.

In a joint decree from several financial regulators, including the central bank of China, the group said they consider ICOs to be an illegal and unlicensed public financing activity. According to their statement, crypto token sales involve financial crimes like the Ponzi scheme, illegal fundraising, illegal issuance of securities and illegal distribution of financial tokens. The cryptocurrency regulation has only made it extremely difficult for citizens to purchase or trade digital coins.

Having cracked down cryptocurrency exchanges and ICOs, China is now planning to go after bitcoin miners. To do so, it is hitting where it hurts the most — limit power supply. Without access to electricity, new bitcoins cannot be generated. The government is investigating power consumption of cryptocurrency miners to determine whether their use of cheap or free electricity has affected power prices in those areas.

Recently, law enforcement in China confiscated hardware used to mine bitcoins. This was after a local power grid operator reported abnormal electricity usage. The report, however, did not say when the police confiscated the machines. One of the largest bitcoin mines belongs to Bitmain.

It is also setting up a regional headquarters in Singapore. Bitmain is a Beijing-based company that also manufactures cryptocurrency mining hardware known as ASIC that solves complex math equations to generate new bitcoins.

Another major Chinese bitcoin mining rig known as BTC. TOP has also decided to shift its operations to Canada. The main cost of bitcoin mining is the electricity. It can constitute up to 70 percent of the overall cost. For this reason, most of these bitcoin mining equipment are installed in rural places close to hydroelectric plants.

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