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Author here. You are absolutely right. Petroleum- or coal-produced electricity is typically too expensive for miners.
by mrb 10y ago
Author here. You are absolutely right. Petroleum- or coal-produced electricity is typically too expensive for miners.
- bitxbitxbitcoin 10y agoThanks for authoring this!
- mrb 10y agoGlad you liked it!
- jankotek 10y agoPetrol is very cheap in Venezuela and some other countries.
- mrb 10y agoIndeed. I know of a medium-size 55nm Bitfury farm in Venezuela. But as others pointed out, most miners are not located in Venezuela. In fact Venezuelan authorities are cracking down on mining farms, and have shut this one down - https://news.bitcoin.com/venezuelan-authorities-weakening-bitcoin-mining-operations/ https://news.bitcoin.com/venezuelan-authorities-weakening-bi...