China-based bitcoin miners have started to migrate southbound from North China, according to local reports. The operators are having difficulties and are transitioning mining facilities for cheap hydro-powered electricity. Testimonials also show that 64 mining operations in the prefecture in Yunnan have been threatened by local authorities. Sources say a hydropower station discharge sparked a number of investigations throughout the region.
Regional reports disclose that a number of bitcoin mining operations are up and moving from areas in North China to regions in South China. On May 22, news.Bitcoin.com reported on miners in Sichuan China having issues with electrical shortages. More recent news shows that local governments are giving owners of mining operations a hard time again.
Despite some of the issues with shortages and local law enforcement, miners are migrating from thermal powered facilities to hydro-powered operations in China’s southern provinces. 8btc financial columnist, Vincent Teh, details that “20% – 35% of hydropower-powered crypto mining farms are vacant in north China’s Yunnan, Guizhou, [and] Sichuan province.” Teh’s report adds:
For cheaper electricity, Chinese crypto miners often travel long distances or even take risks.
The local reporter discussed the situation with bitcoin miners operating in Sichuan, and he explained that farms in the province are not “saturated and in dire need of mining rigs.” Teh further revealed that when miners up and move operations from North China to South China, the extent of the migration can take anywhere between “10-17 days.” The rain season has started and this means that hydropower will be more plentiful over the next few months. Chinese miners have been migrating back and forth from the North to the South for years.
Additionally, Teh spoke with a Chinese miner named Yang Haolin who explained that in Inner Mongolia
