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Domov Reddit China is kicking out more than half the world’s bitcoin miners –...

China is kicking out more than half the world’s bitcoin miners – and a whole lot of them could be headed to Texas

level 1

Mod · 3h · Stickied comment

level 1

Texas is an odd choice for something that takes energy consumption

level 2

· 1h

Redditor for 2 months.

Probably cause the largest solar powered cryptocurrency mining data center in the US is being built there later this year

level 2

The same Texas that already has terrible electrical infrastructure and unreliability?

That’s where they want to move …

level 2

Don’t they have hella cheap energy as long as you plan ahead? As long as you invest in batteries to get you through usage/price spikes you can avoid what happened this winter.

level 2

Not if you use their natural resources and make the electricity yourself.

level 2

Is there something there that we don’t know

level 2

· 27m

Platinum | QC: CC 273

Right? Why don’t they go to El Salvador near a volcano or something? Of course, one that doesn’t explode too frequently

level 2

Maybe it will incentivize them to fix their grid.

level 1

And ERCOT says Texas is tracking for another energy crisis as of today …

level 2

Blackouts for me

Blackouts for you

Blackouts for them

Blackouts for all!

level 1

They’re gonna regret this choice, in the other hand it’s gonna be better for the entire decentralization sistem of bitcoin.

level 2

Not sure if centralizing in the US instead of China is much better, that’s where most people are currently headed and mamy big projects are being planned.

level 1

“Allll my ASICs live in Texas

That’s why I hang my head in Tennesseeee”

level 1

That’s not really an intelligent move made by the Chinese, looks like they’ve attacked themselves on this one

level 2

Making alternatives to their CBDC less appealing is smart, given they intend to use it to reinforce their control over their citizens. Maybe not ideal for their citizens freedom, but that isn’t really their goal in China is it?

level 1

· 2h

Platinum | QC: ETH 42, XMR 41, CC 35 | MiningSubs 86

Texas may not be the worst state miners could pick to move to, but it is in the top few. This is something they would pretty quickly come to regret.

level 2

The lack of estate taxes would dictate that these Chinese miners (who are wealthy) would get huge mansions and not have to pay for it so they wouldn’t care about the energy when they save $30000/ year in taxes. Enter Joe Rogan

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