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location Home > News > Details

The hard days are over, hidden Chinese miners have to find overseas mines

2022-01-15 15:14

The hard days are over, hidden Chinese miners have to find overseas mines

It is widely acknowledged that most of the Bitcoin miners in China have been forced to shut down due to the severe policy made by the Chinese government.

However, according to CNBC reports, as many as 20% of Bitcoin miners in the world still remain in China with a more covert mining method. Although this share is far below the peak of 65% to 75%, it is still way higher than the official estimate made by the University of Cambridge that China’s current share is 0%.

As a result of the policy crackdown, many of China's big miners have chosen to go to Kazakhstan, Canada, the United States and other places to dig. However, supply chain and transport bottlenecks caused by the COVID pandemic have made it difficult for small and medium-sized miners with limited disposable funds and international resources to relocate. As of November, China still had an average of more than 100,000 cryptographic mining IP addresses active every day, mostly in Guangdong, Jiangsu, Zhejiang and Shandong provinces, data showed.

But mining in China cannot last long after all, because the hard days have passed, and these underground miners are largely dependent on off-grid small hydroelectric power plants. In the past, as the dam dried up, Chinese mining unions moved to Xinjiang and Inner Mongolia to use coal and electricity for mining, but now they must transport the equipment overseas and find a suitable mine for hosting.

LLGO's mines in Canada and the United States are still being expanded to meet the needs of miners around the world. What calls for special attention is that due to policy, mining platforms cannot provide services for users in mainland China.

For miners, the best way is to set up their own mines for mining. However, most of the small and medium size miners do not have enough funds to invest in the construction of mines, nor do they have complete international resource channels. At present, the LLGO mine construction project is under construction, and small and medium size miners can still own their mines by claiming equity.

Please contact us If you are interested in mine co-construction.

BTC
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Swap Rate 9.59%
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24 hour increase -1.08%
Computing power 277.37 EH/s
daily output 0.00000320 BTC / T
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

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LTC
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Issue amount 84000000
24 hours volume 25.12M
24 hours turnover $ 1.75B
Market Direction Short
Swap Rate 35.10%
Market Value Proportion 0.46%
market value $ 40.66 x 100 million
24 hour increase -2.72%
Computing power 758.97 TH/s
daily output 0.00001078 LTC / M
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
BCH
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Market Direction Short
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Market Value Proportion 0.21%
market value $ 14.05 x 100 million
24 hour increase -2.09%
Computing power 1.72 EH/s
daily output 0.00055942 BCH / T
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
FIL
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Market Direction Short
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Market Value Proportion 0.17%
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24 hour increase -6.11%
Computing power 18.69EiB
daily output 0.01349375 FIL / TiB
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
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Market Direction Short
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Market Value Proportion 0.00%
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24 hour increase -2.33%
Computing power 14912.60839843 PiB
daily output 0.00033313 XCH / TiB
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
ETC
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24 hours volume 31.82M
24 hours turnover $ 799.17M
Market Direction Short
Swap Rate 23.14%
Market Value Proportion 0.33%
market value $ 24.26 x 100 million
24 hour increase -4.49%
Computing power 128.27 TH/s
daily output 0.00012673 ETC / M
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
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