Quote from: bitmover on February 16, 2021, 03:00:21 AM

Quote from: LittleBitFunny on February 16, 2021, 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.

What you are talking about are some traditional mining methods. I don’t think this is beneficial.,
There are many people who don’t know how to mine online

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