China's Bitcoin Crackdown Drives Miners Toward Freewheeling Texas - Nikkei Asia

by asia.nikkei.com posted 1month ago 1 views
TOKYO -- As China's clampdown on cryptocurrency drives miners out of a country that had dominated the industry, the U.S. state of Texas is emerging as a destination of choice thanks to cheap electricity and a more welcoming environment. Despite its abundance of fossil fuels and wind power, however, the state is struggling with its own power supply issues. Shenzhen-based BIT Mining plans to invest $26 million in a 57-megawatt data center to be built in Texas. It would join Bitmain, headquartered in Beijing, which looks to scale up a facility that it launched there in 2019.

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