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Bitcoin Miners Flee Mongolia Before the Mining Ban by filotasriza3

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hive-167922 · @filotasriza3 ·
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Bitcoin Miners Flee Mongolia Before the Mining Ban 
<center>![image.png](https://images.hive.blog/DQmRY5WKVo9zCThxvMSkWcRancvTUydnCqmAyhJJYA2fSLV/image.png)</center>

I don't know if you guys heard but many bitcoin miners are if already haven't, flee from Mongolia before the mining ban. You see inner Mongolia was a "must go" place for mining as well as China in general.

To understand the size of it, China from 2019 to 2020 produced 71.7% and Inner Mongolia 7.71% of the world’s hashrate for bitcoin and that's something the [Cambridge Centre for Alternative Finance](https://cbeci.org/mining_map) is saying. 

Now the government of Mongolia basically said to the miners to get out and that they have 1 month to do so. The reason is to achieve new carbon-reduction goals set by the national government. 

Now that's happening because Mongolia crypto farms run on coal-powered electricity while in many other places in China in hydroelectricity. Now i don't we will ever know the real reasons behind that but what is promoted is that China wants to halt the rise in its carbon emissions by 2030.

![image.png](https://images.hive.blog/DQmY3fUB1rh2L6Xz8jAcXy1AiucLkoLM76D2HTu2pdk1K4P/image.png)

Some crypto miners moved to other Chinese providence and some in other countries like Russia, Iran, Malaysia among others. I am really curious to see how this will play out because hydroelectricity may be "unlimited" and "cheap" but it's not stable. It really depends among other factors on the weather itself and we know that up until now we can change the weather to our likes!

I am really curious to see if we get somehow the chance, the earnings of these miners when they moved their operations. I want to see a comparison of their profits from inner Mongolia and coal-powered electricity and the country/city plus method they chose. 

Before i close this post i know that coal mining as far as it concerns everyday people and workers it's not good for their health. I don't know if It may be more profitable for the crypto-miners but we should have as a priority the health of our people!

![image.png](https://images.hive.blog/DQme6MvmQvny5Tp4eMz6Jx5SaZLGUtJgB1P279xGDM3H6Uj/image.png)

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> gifs and images [1](https://cdn.pixabay.com/photo/2017/10/14/22/20/farm-2852024__340.jpg) [2](https://upload.wikimedia.org/wikipedia/commons/0/00/Coal_mine_in_Inner_Mongolia_002.jpg) [3](https://live.staticflickr.com/23/35148674_aa7868123c_b.jpg)</center>

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vote details (153)
@chekohler · 
I didn’t know about rhe Mongolia thing ag all they were never mentioned before probably jusy grouped in with China but any decentralization of Ming is good let them move to other countries and if they can source cheaper or unused energy elsewhere it’s only a benefit to the network 

Also their playbook can be put to good use by other miners who are forced out of places due to regulation or costs
👍  
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@filotasriza3 · 
so damn true! thanks for stopping by man!

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@evernoticethat · 
I didn't know about this. Mongolia is one of those quiet countries that you never hear much about. They seem to be caught in-between two opposing forces and have now had to make a choice. 

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@filotasriza3 · 
who knows what's really happening behind the scenes

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👍  
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@rob23 · 
I had no idea that Mongolia was playing such an important role in crypto. Informative stuff!

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@filotasriza3 · 
wherever electricity is cheap, miners are already there :P 

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