Japanese Bitcoin [BTC] miners migrate to Mongolia for cheaper electricity

Bitcoin mining is what secures the Bitcoin network and pay the miners to keep mining. Switzerland and other cold countries with cheap electricity are the main targets for such miners, and now Mongolia is attracting Japanese miners for Bitcoin mining.

Tokyo-based e-wallet company Ginco has now set up shops in Mongolia’s capital Ulaanbaatar. Ginco has set up two mining firms to be specific. Ginco set up the company back in October when the mining hash rate fell and so did the price of Bitcoin when other competitors were considering closing up shop due to the fact that mining was not profitable.

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The post Japanese Bitcoin [BTC] miners migrate to Mongolia for cheaper electricity appeared first on BlockBoard.

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