Miners have moved to mega, Iceland, Singapore

After the news of the people's Bank of China was preparing to crack down on bitcoin miners, the bitcoin boom, set off by the founder of Paypal, Peter Thiel, has fallen.

In fact, the Reuters reported that the Central Bank of China has convened a meeting on the standardization of the use of bitcoin mine electricity. Nowadays, the topic of bitcoin energy consumption is becoming more and more sensitive, because the energy consumption of bitcoin exploitation is more than that of Qatar in a year.

Global bitcoin investors will have an unfortunate news: the people's Bank of China has called for the establishment of relevant norms to limit the energy consumption of bitcoin miners, which has led to a decline in bitcoin prices. Before the news, I was at the end of December last year, said the Canadian province of Manitoba (Manitoba) city of Winnipeg (Winnipeg) because of the cost of electricity is very low, is becoming a digital currency for holy gold miners. Indeed, Winnipeg was rated as the lowest cost city in North America, favored by bitcoin miners. Some of the biggest bitcoin players are moving their business overseas.

Although these measures do not seriously affect the trading speed of bitcoin, they will reshape the encrypt money mining industry. As China's electricity costs, chip manufacturing costs and labor costs are low, bitcoin miners are constantly pouring into China. But now, because of the decision of the people's Bank of China, they can only find another place.

Bitmain, which owns two of China's largest bitcoin mining companies, also owns mining operations in the United States and Canada. Recently, the company co-founder Wu Jihan said in an interview, will set up regional headquarters in singapore. The third largest mineral pool, Lebit (BTC.Top), also opened branches in Canada; the fourth largest mineral pool ViaBTC has also landed in Iceland and the United States.

These measures also highlight the phenomenon that China is losing its dominant position in encrypted currency as the Chinese government tightens its bitcoin mining.

At the same time, bitcoin mining costs are also expected to show an alarming rate.

Libet pool (BTC.top) founder ginger Thatcher said, select the mining bitcoin in Canada, mainly because of the relatively low cost, and relatively stable policy. He also said he was considering digging bitcoins in Iran and Russia.

This makes bitcoin investors in Asia and South America more and more interested in digging bitcoins in Canada. Diane Gray, President and CEO of CentrePort, said: "we have also come to consult with a large non Asian company. Some of them have made great progress in North America, and are seeking large-scale expansion.

Because the mining of encrypted money requires a lot of energy consumption, this makes the industry have a bad impact on the environment. As the CBC news network reports, bitcoin trading needs to consume a lot of energy.

In the past month, the electricity energy consumed by bitcoin is expected to grow by 29.98%.

If this speed is developed at this rate, the bitcoin mining industry will consume all of the global power of electricity by February 2020.

On Wednesday, local time, Bloomberg first reported the efforts of the Chinese government to increase the control of bitcoin mining. However, the people's Bank of China did not respond to a request for comment.