After China banned the digital currency “Bitcoin” in 2021, a lot of Bitcoin miners are moving to Southeast Asia, where they have been setting up big industrial sites for a long time. There are, and the plants that were shut down are now being turned back on.
The Daily Pakistan Global said that Bit-coin miners were looking for places in the area with access to power and skilled workers. As an example, Peter Lem started a business called Bittou. Who moved his business from China to Malaysia?
Large equipment, like a 20 MW set-up in China, was left behind. “When we decided to set up at the Industrial Park in the city of Srawak, Malaysia, most of the companies had gone to the Industrial Park, and the park was deserted, which we decided to settle once again,” Peter said. “Here we are available at very cheap prices without electricity and skilled workers, so this market is proving more beneficial to China than China,” said Lem. Since many more Bit-coin companies have come here, Malaysia now has a 2.5 percent share of the world’s Bitcoin mining.
Entertainment7 months ago
