The Chinese government's call to crack down on bitcoin mining and trading has triggered a phenomenon known as "mining migration" in the encryption circle.
Texas in the United States is an ideal destination for miners, thanks to its abundant solar and wind resources, an unregulated market, and a political stance friendly to cryptocurrency.
Despite the lack of energy reserves that led to power outages for several days last winter, Texas has one of the lowest energy prices in the world, and its share of renewable energy is growing, with 20% of the state's electricity coming from wind as of 2019. It has a loosely regulated grid that allows customers to choose between power suppliers and, most importantly, its political leaders are very supportive of encryption - the ideal condition for a miner to find a popular and cheap source of energy.
Dah! I thought Chinese miners would go away from crypto markets for good. But it seem the big ones are moving out of China to a so-called first world country and also in a crypto friendly jurisdiction. With hate crimes rising against the Asians, I don't know how it will be taken by the local in Texas. But at least these miners won't be controlled by the Chinese government which is good. But Americans needs to beware as expansionist China is becoming a global threat.