Post
Topic
Board Mining speculation
Merits 1 from 1 user
Re: 2021, time for a new general & diff speculation thread...
by
PrimeNumber7
on 06/07/2021, 03:51:29 UTC
⭐ Merited by vapourminer (1)

It is hard to know the legitimacy of cloud mining operations. Any one of those cloud mining operations could potentially be selling (or have sold) shares of miners that do not exist, even if they have actual miners from bitmain. For example, they could have sold 120% of their actual mining capacity. It is also possible that bitdeer was shut down, but will continue to sell cloud mining contracts to minimize the losses to the owners of bitdeer.

Viabtc will fare the best, as they can sell the miners that were just shut down by the Chinese government.

Would be interesting to know if the new locations are space constrained or power constrained.
I would piggyback off what mikeywith above.

A miner is essentially an ATM machine that prints cash to anyone in physical possession of the miner. If you ship a miner overseas, you need to have an employee that you trust set it up in a new datacenter. If the employee is not trustworthy, he can repurpose the miner to mine on a pool account that does not belong to the owner of the miner. If someone owns thousands or tens of thousands of miners, they would have to send millions of dollars to what amounts to be a stranger in order to keep using their equipment, and there is the risk that an untrustworthy employee would repurpose a percentage of the miners to mine on another pool account, and the owner may not even be able to detect this.