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3 tons of Bitcoin mining rigs are being relocated from Guangzhou to Maryland amid China’s recent crackdown

A few weeks after China started its nationwide crackdown on Bitcoin mining, according to Eunice Yoon, Beijing Bureau Chief of CNBC, three tons of mining machines will move from Guangzhou to Maryland.

3 tons of Bitcoin mining rigs will reportedly relocate from Guangzhou to Maryland

The Bitcoin miner exodus from China is ramping up as the regime continues to clamp down on operations across the nation. There is speculation that some miners will look to transition to the US. And this news is further confirmed when three tons of BTC mining rigs are about to be relocated from Guangzhou to Maryland – a state in the Mid-Atlantic region of the United States.

As expected, the Bitcoin hashrate plunged over the weekend following a clampdown on cryptocurrency mining by the southwestern Chinese province of Sichuan. Some experts see this as an opportunity for the US to attract ousted miners, which seems to be a growing trend.

However, Maryland is not a prominent destination when it comes to Bitcoin mining aspect. Among them, many companies in China are looking to North America, and specifically Texas, to set up their mining facilities.

Texas has become the go-to spot for these displaced mining operations with companies like Bitmain, Blockcap, Argo Blockchain, and Great American Mining rumored to be just a few migrating to the Lone Star State. It often has some of the world’s lowest energy prices, and its share of renewables is growing over time. According to the state comptroller, currently, Texas is the nation’s leader in wind-powered electricity generation, producing almost 30% of the U.S. total.

In addition, another bright name is Wyoming. If cheap energy is the key to successful mining, then Wyoming is in a great position. It produces 14-times more energy than it consumes, making it the biggest net supplier of energy in the country.

Mayor Miami tries to entice China’s Bitcoin miners

Two days ago, Miami’s Mayor Francis Suarez said that his city was open to BTC miners from China who are flocking to find new homes.

According to an interview, Suarez is inviting Chinese miners to his city to set up shop if they desire. “We want to make sure that our city has an opportunity to compete. We’re talking to a lot of companies and just telling them, Hey, we want you to be here”, the mayor added.

For now, the gap between the US and China in terms of the BTC hash rate is still significant, but it could start to narrow in the coming months if more miners actually move locations.

After banning crypto trading back in 2017, the Chinese government has been toughening its stance on crypto recently, launching a major crackdown on cryptocurrency mining. The latest news follows a series of mining bans in several major crypto mining hubs in China including hydropower-based provinces like Sichuan and Yunnan. Authorities in Xinjiang, Inner Mongolia, and Qinghai have also ordered mining operations to shutter.

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