Post
Topic
Board Speculation
Merits 5 from 2 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
aesma
on 22/02/2022, 18:16:49 UTC
⭐ Merited by El duderino_ (4) ,JayJuanGee (1)
What do they mean by Illegal Mining Farms?

That's what happens when you get your news from Twitter. Read the actual thing and tell everyone what you've learned, win-win.

https://oilprice.com/Latest-Energy-News/World-News/Kazakhstan-Energy-Officials-Shut-Down-13-Illegal-Data-Farms-In-Crypto-Crackdown.html

tl;dr: using residential electricity rates for mining, apparently a big no-no in Kazakhstan.

Not just there, that would be illegal here in France, too. We have price controls on electricity for homes, that companies don't get.

Moreover, doing everything above book (creating a company, paying all the taxes, declaring all the coins created) is such a hassle that I would expect many farms to be illegal...