Quote from: Altcoinsintel on Today at 05:57:44 PM

Quote from: bitmover on Today at 03:00:21 AM

Quote from: LittleBitFunny on Today at 01:51:13 AM

Bitcoin mining requires a lot of energy. So anyone who wants to set up a mining farm will try to set it up in a place where electricity price is relatively cheap and mining equipment is available at low prices. That's why most the miners prefer places like China, Cyprus where electricity prices are relatively low.

This is the correct answer.

As we can see in the chart below, the electricity cost per Kwh in USA is about 50% higher than China.

https://www.ovoenergy.com/binaries/content/gallery/ovowebsitessuite/images/guides/how_much_does_electricity_cost__large-copy-8.png
https://www.ovoenergy.com/guides/energy-guides/average-electricity-prices-kwh.html

I don't know why we don't have many miners in India, where it is also cheap. But I think China has one additional advantage: They have some of the biggest hydro plants in the world. Energy is probably much cheaper near those hydro plants.

I don't see how this answer is correct. First of all it gives an answer about a different question. It doesn't answer why nobody else except the Chinese are manufacturing ASIC equipment for Bitcoin mining. Secondly, it states that Cyprus has relatively low electricity, while in fact it has one of the highest costs of electricity in the European Union.

https://www.stockwatch.com.cy/en/article/energeia/cyprus-ranks-7th-most-expensive-electricity-market

Agreed. The question is manufacturing MACHINES not mining. Also, when companies can't even produce enough of what they have doesn't this leave room for more competition? Just look at the prices of these new machines that run at lower watts. There is a real demand for these at the current prices of BTC. I'm just curious why no American companies are not only making them now but haven't in the past. They could OEM the factories in China I guess. But there are plenty of companies that make their own computer boards in this country. I guess it's about overall market share not being high enough.