According to a recent report, cryptocurrency miners from China have been flocking to regions in Southeast Asia like Vietnam, Myanmar, and Cambodia. However, a relocated Chinese miner based in Cambodia says miners trying to find safe havens in other Southeast Asian countries are having difficulties, and losing money every month due to residents complaining and unreliable power.
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Chinese Miners Who Relocate Are Finding Other Regions Located in Southeast Asia More Difficult
Mining in China is still allowed but there have been rumors of government crackdowns, and because of this speculation many mining operations based in the country have begun to relocate. Some operations who still seek out cheaper Chinese electricity tariffs moved to the border towns in Yunnan, but lots of Chinese miners have relocated to other areas in Southeast Asia like South Korea, Vietnam, Cambodia, and Myanmar. Although government officials and residents living in these regions have been giving miners a hard time according to a relocated miner named Zhang Han.
Zhang relocated to Cambodia from China and found that local rent is quite cheap, a 500 square-meter large shack only charges 500,000 riel ($100) per month, and you can hire two local young labors at the cost of only $100. But Cambodian mining operations have posed other problems for Chinese miners.
Zhang says that he had miner friends that already “occupied” the suburbs of Cambodia and Myanmar. He did the math and found areas in Southeast Asia still offer much cheaper electricity than other countries worldwide. However, the miner explains he is not too happy with the move and states “I really regret it.” At first, Zhang found that Cambodia was expensive in some areas of
