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1 sat \ 3 replies \ @notgeld 12 Feb 2023 \ on: Hash-War Knocking? Russia To Invest In BTC Mining bitcoin
Miners can't invest in Russia. It can't produce ASIC chips. There is no proper institutional climate and capital markets to prop up public miners.
The truth is Russia is depopulating, Siberia is largely uninhabited, there is no industry to make a substantial demand for energy.
What about chinese chip manufacturing?
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Yes, they could ship chips to Russia but then it must outcompete rest of the world in bidding for these chips. I doubt this is possible unless North American market gets totally saturated. Even so, I think NA miners start selling used equipment and buy new instead. Russia may buy used equipment but this will be always not really competitive way to win market. Only for those who have really cheap energy. Almost free.
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Thanks for Your info! And greets
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