Ahead of the Bitcoin halving, a significant number of Bitcoin miners are relocating their operations from the United States to Africa and South America, seeking regions with lower electricity costs, such as Ethiopia and Nigeria. This move involves around 600,000 S19 mining machines, which are being transferred due to the cheaper energy in these new locations. These machines, previously valued at $11,500 each, are anticipated to drop to a value of only $350 post-halving. Additionally, it is reported that 6,000 Bitcoin mining machines in the US will be idled as a result of the halving, with plans to refurbish and sell these old machines overseas.
European mining giants poised to reap rewards as copper prices skyrocket https://t.co/d0T9Qy2H4d https://t.co/7K8bOAleCd
Chinese miners are eyeing M&A in battery metals as plunging prices force Western rivals to cut back, writes @mburtonmetals https://t.co/2EObRed8Jb
Chinese miners are eyeing M&A in battery metals as plunging prices force Western rivals to cut back, writes @mburtonmetals https://t.co/NSth9aAdcK via @markets
Bitcoin 'Halving' Spurs Exodus of Old US Mining Computers Abroad https://t.co/swq5kEbWBv
Bitcoin โHalvingโ Spurs Exodus of Old US Mining Computers Abroad #DisruptiveTech https://t.co/DNgvdMR4oG
6,000 old bitcoin-mining machines will be refurbished and sold overseas after the long-awaited halving event https://t.co/ldYVi4wDG6
MINERS PLAN MOVE TO LOWER-COST COUNTRIES AS BITCOIN HALVING APPROACHES-SCMP
6k Bitcoin mining machines in the US will be idled due to the halving https://t.co/UZv4dTpddg
As the halving approaches, Bitcoin mining firms are strategically relocating their operations to regions with lower electricity costs (i.e., Ethiopia, Nigeria) https://t.co/SN11evoVJW
NEW: Many #Bitcoin โ๏ธ miners are moving rigs out of the ๐บ๐ธ US to Africa and South America ahead of the halving, per Bloomberg. 600K S19 machines are on the move due to cheaper energy. These rigs, once costing ๐ต $11,500 each, may be worth only $350 after the halving. https://t.co/8X13o7Szuy