Crypto Mining in Thailand Is Booming After Chinese Ban

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China’s ban on cryptocurrencies has spurred an increase in crypto mining in Thailand, as citizens look to capitalize on the trend during the pandemic and buy up Chinese stock of computer processors integral to Bitcoin mining operations, Al Jazeera reports.


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“Bitcoin is the gold of the digital world. But a mining rig is like gold mining stocks: You’re paid dividends according to the gold price,” Thai crypto entrepreneur Pongsakorn Tongtaveenan told Al Jazeera.

In September, Beijing cracked down on crypto mining, dramatically throwing half the globe’s total Bitcoin miners offline and sending an exodus overseas to cheaper energy pastures.



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