As tensions escalated between the U.S. and Iran in recent months, reports have detailed that Chinese bitcoin miners are looking to set up shop in Central Asia and more specifically in Kazakhstan and Uzbekistan. Last spring, Chinese bitcoin mining operations flocked to Iran for extremely affordable electric prices ($0.006 per kilowatt-hour) in the oil-rich nation, but now Chinese miners are finding it easier to migrate to Central Asia for $0.03 per kWh in certain countries.
Also Read: Iranian Grid Explains Electrical Costs Will Fluctuate for Bitcoin Miners
Chinese Miners Consider Moving Older Units and Operations to Central Asia
Regional reports have disclosed that Chinese bitcoin miners have been considering migrating to Central Asia for cheaper electricity. Last April, a few Chinese mining operations moved to Iran in order to get electric prices at $0.006 per kilowatt-hour, but the authorities made that difficult. Even though Iran’s leaders legalized mining in the country, they also said that miners must pay the export price for…