Chinese miners contemplate to move abroad

Chinese miners are preparing for the possibility of having to move their businesses overseas due to threat of China's ban on mining
21 November 2017   1239

Recently, flow of news have been suggesting that China has intention to prohibit mining as state-run Sichuan Electric Power Corporation supposedly spreaded a circular ordering grid-connected hydropower stations to cease supplying low-cost electricity to bitcoin mining operations.

Soon after, it appeared that the report has been contradicted as the company admitted it made several mistakes, including using unverified claims, on its circular.

However, bitcoin miners are still suggesting moving their operations abroad to protect their businesses.

Many of us have already paid visit to Vietnam, Laos, Thailand, Russia and the US, negotiating electricity prices with local authorities and buying sites for future use … The business blueprint is bound to go overseas, even if there’s only a 1 per cent possibility that China’s crackdown against bitcoin would extend to mining.

 

Cui

Cryptocurrency miner from China said in an interview with the The South China Morning Post

The Chinese Bitcoin miners began arriving  to Quebec due to inexpensive electricity and cooling there, looking for alternative locations to place their operations. Hydro-Quebec provides 4.55 $ per kWh. It also plans to provide additional 500 kWh per 2.58 $ by April 2018.

Despite the fact that China has become the leader in bitcoin mining a little uncertainty is enough to induce cryptocurrency supporters to take precautions and even prepare for the possibility of moving operations outside the country.

Change.org to Mine for Charity

According to the calculations, if 10k computers will run the minning screensaver for 12 hours a day, the charity fund will receive $10k monthly
18 July 2018   99

Social platform for petitions Change.org announced the launch of a screensaver that mines Monero on users' computers. All tokens will be transferred to the charity fund of Change.org. This is reported by Coindesk.

This initiative was launched in partnership with the marketing agency Tracelocke Brazil.

Representatives of Change.org report that the screensaver will consume resources only when users do not use the computer. According to their calculations, if 10 thousand computers will run the screensaver for 12 hours a day, the charity fund will be transferred $ 10 thousand monthly.

At the moment the program is available only for Windows users and the platform did not report on the release plans for the version for macOS.

Note that at the end of April, a similar action was launched by the Australian unit of the United Nations International Children's Emergency Fund; (UNICEF). The website "Page of Hope" mines Monero cryptocurrency.