Bitcoin Miners Moving Rapidly From China as Upto 1 Million Miners Could Relocate to Alberta.

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Highlights

  • Energy Firm black rock Petroleum Company Released in july it had reached an agreement to operate upto 1 Million Bitcoin Miners in Alberta.
  • The Deal was proposed amid Beijing’s Crackdown on Cryptocurrency Trading and Mining operations
  • Currently, there is No timeline for the relocation of bitcoin miners, though the contract for using the natural gas Sites is Listed as 2 Years.
  • 1 million Miners Represents significant portion of china’s total mining capacity

Relocation of upto 1 million mining machines Represents a multi-billion dollar investment using fossil fuels as a power source – Alex de Vries

In china, these Bitcoin Miners were powered by hydroelectric power for some part of the year and redt fo the year, they were powered by chinese coal.

These Bitcoin miners coming to alberta will run on natural gas all year around which won’t inprove the network in CO2 emissions.

Experts believes that 1 million Miners consists of 33% of total global mining capacity which is a accounts to 3 million in total – de Vries

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