According to CNBC consultant Eunice Yoon, a Chinese logistics agency in Guangzhou said it will transport three tons of Bitcoin mining machines to Maryland, USA.
According to CNBC consultant Eunice Yoon, a Chinese logistics agency in Guangzhou said it will transport three tons of Bitcoin mining machines to Maryland, USA. This seems to confirm the speculation that some miners could move to the US.
China strengthened its dominance over Bitcoin mining in May, after reiterating its ban on working with Bitcoin and other cryptocurrencies. The situation got worse when the federal government ordered a number of mining agencies to cease operations in a number of regions.
As expected, the Bitcoin hash rate has dropped notably, especially after the shutdown in Sichuan this Sunday. Some experts saw this as a chance for the US to address displaced miners.
Suarez Invited to Miami
Recently, Miami Mayor Francis Suarez had invited Chinese miners to move to the town he ruled.
Suarez also mentioned that Miami will provide incentives for them. These include tax concessions, infrastructure incentives and scaled down rules to encourage investment.
However, he said, since they will use nuclear energy, miners will also have the opportunity to benefit from the reduction in electrical energy costs.
As of now, the gap in BTC hash rate statements between the US and China remains vital. However, if these miners relocate, they may start to close in the coming months.