\t\t\t\t\t\t\t\t\t\tKey facts: <\/p>\n
Laos, a neighboring country, provides electricity to Thailand, which is used to mine BTC.<\/p>\n
Bitcoin miners from Thailand can earn up to USD 40 per day for each machine.<\/p>\n
China\u2019s outpost against Bitcoin (BTC) mining last year sparked a tidal wave that expanded activity to other borders. Thailand, a country located in South Asia, took advantage of the situation and began mining cryptocurrencies based on the low prices of miners.<\/p>\n
A report by the Qatari media Al Jazeera revealed part of what is being experienced in Thailand, a country where local entrepreneurs set their sights on the Bitcoin ecosystem and they began to buy mining equipment that was being auctioned in China and then resold it in their country<\/strong>, thus encouraging the activity.<\/p>\n \u201cLocal Chinese miners got rid of their machines and the price collapsed by 30 percent (USD 9,000 on average),\u201d Pongsakorn Tongtaveenan, a Thai businessman, told the newspaper.<\/p>\n While right now the prices of Bitcoin miners have returned to USD 13,000 on average, he continues to sell hundreds of equipment in Thailand, where there are already small investors interested in being part of the activity that guarantees the existence of the Bitcoin network.<\/p>\n Pongsakorn, according to this medium, is one of the businessmen who took advantage of China\u2019s onslaught against mining to generate money. At first he did it by buying the Bitmain miners, from the Antminer SJ19 Pro series, directly in Shenzhen, one of the regions where there was more activity<\/strong>.<\/p>\n \u00abBitcoin is the gold of the digital world. But a mining platform is like the shares of gold mining: dividends are paid according to the price of gold, \u201cexplained the businessman anonymously.<\/p>\n Advertising<\/p>\n The Thai entrepreneur has helped fuel the local mining industry, where most of the participants are small investors operating from home. They can earn up to USD 40 per day with a single machine and there are already at least 100,000 Bitcoin miners in Thailand<\/strong>.<\/p>\n That means in Thailand more or less USD 120 million per month could be generated thanks to the mining activity of BTC<\/strong>, in the assumption that the participants are operating with a single machine.<\/p>\n The interesting thing lies in who are those who operate these ASICs. For the medium, they are those who seek a stable income, especially due to the pandemic. These, added to investors who believe in Bitcoin.<\/p>\n \u201cAt the time that China banned cryptocurrencies, we were ecstatic,\u201d said a Bitcoin enthusiast, who is now a miner, and who owns a small solar-powered farm in eastern Thailand.<\/p>\n This miner invested $ 30,000 to start mining Bitcoin and, as he explained, recovered its initial investment after 3 months<\/strong>.<\/p>\n A close neighbor is the one Thai investors are targeting to pursue mining: Laos. A communist country, ally of China, where cryptocurrencies are proliferating<\/strong>.<\/p>\n Although that nation does not have good internet connectivity, it does have a suitable electrical system. There, electricity is cheap and is generated by dozens of mega-companies distributed throughout the national territory<\/strong>.<\/p>\n According to an expert in cryptocurrency regulations quoted by the outlet, more than 95% of the electricity produced in Laos is manufactured for export<\/strong>. Therefore, they must take advantage of the excess, otherwise it would be \u201ca great waste for the government.\u201d \u201cThey see an opportunity to transform that excess into millions of dollars,\u201d he added.<\/p>\n In fact, in CriptoNoticias we reported when Laos authorized the trading and mining of Bitcoin and other cryptocurrencies. It was an experiment that the government of that country could deepen and that could also attract miners from China and other parts of the world in search of cheaper options in energy.<\/p>\n 6 companies are known to have a license to operate<\/strong>. To access it, mining companies had to pay about $ 1 million in electricity from Laos\u2019 state grid for a year, as well as large operating fees.<\/p>\n The fact is that, given the geographical disadvantage and lack of human talent, Laos \u201cdesperately needs cash in the government coffers and has few options to generate income,\u201d in the opinion of David Tuck, who is a partner at the risk consultancy Lyriant Advisory, based in Bangkok.<\/p>\n Laos dams are responsible for producing electricity for neighbors, such as Thailand, so the arrival of more miners will be welcome, especially due to the new demand of one of the most important buyers<\/strong>.<\/p>\n The impact of China, although it shook the activity of its territory, did nothing more than globalize this activity and allow other countries to become epicenters<\/strong> of the global hash rate<\/strong>.<\/p>\n As already reported, the United States leads the mining ranking, hosting 30% of the world\u2019s hash rate. It is followed by another Asian country, Kazakhstan, which right now concentrates 18% of the global hash<\/strong>.<\/p>\n Other countries, such as Russia and Canada, have also seen growth in that industry. This, in addition to Latin American nations, which have had a key role in BTC mining, such as Venezuela.<\/p>\n![\"\"](\"https:\/\/www.criptonoticias.com\/wp-content\/uploads\/2021\/11\/bangkok.png\")
Bangkok, the capital of Thailand, a new Bitcoin mining epicenter \/ Source: Turismotailandes.com. <\/p>\n![\"\"](\"https:\/\/www.criptonoticias.com\/wp-content\/uploads\/2021\/11\/CoinEx-970%C3%97250.png\")
<\/p>\nUp to USD 120 million per month for mining Bitcoin<\/h2>\n
![\"\"](\"https:\/\/www.criptonoticias.com\/wp-content\/uploads\/2021\/11\/tailandia.png\")
Thailand is south of China, so the movement of mining machines was fast \/ Source: Google Maps. <\/p>\nWhere do they get their energy from?<\/h2>\n
![\"\"](\"https:\/\/www.criptonoticias.com\/wp-content\/uploads\/2021\/11\/mineria.png\")
Bitcoin miners operating directly from Thailand \/ Source: Al Jazeera. <\/p>\nNew epicenter of mining<\/h2>\n