The low costs of electricity, the high speed of the internet and the cold climate are favorable for obtaining and depositing the money.
The most suitable places are Canada, Iceland, Switzerland, China and Russia, as well as other countries in the north and east of Europe, according to research by the University of Cambridge in the United Kingdom prepared by Garrick Hileman and Michel Rauchs.
The study points out that China, despite concentrating the largest number of "farms" to mine cryptocurrencies in the world, has a problem that is the speed of connection.
Among other aspects also influences the ease to settle in the country, the cost of rent and labor in addition to the price of hardware, farms that can actually install any person, computers solve mathematical challenges to get virtual currencies, is say that these "farms" are powerful machines because they spend a lot of electricity because they heat up in a short time, they also need to be refrigerated or preferably in a cold climate.
Chinese Bitcoin Mine Bags Millions of Dollars in Investment From GeekBeans
The city of Irkutsj, in Siberia, has received the nickname "crypto-capital" in Russia because the cost of electricity is five times lower than that of Moscow, for this reason investors have shown interest in installing cryptocurrency farms , to the one that local companies, Ilia Frolov and Dmitri Tolmachev, designed a prototype of house that takes advantage of the heat produced by the servants.
The plan for this is to build 2,000 "cryptohouses" by 2020, assuming that virtual currencies will continue to exist, even though analysts argue that such a system is like a financial bubble.
*Mining networks
The largest mining networks (mining pools) is where the investors group several servers and distribute them in dividends, they are in the Chinese provinces of Xinjiang, Neimonggu, Heilonggiian and Sichuan, where the climate is cold and cheap electricity, in these areas the miners reach agreements with the government to get good operating conditions.
There are other parts of the world that host mining networks, such as Switzerland and Iceland, the former Soviet Republic of Georgia, the republic of Checha and also Venezuela, which, despite the calculus of its climate, offers business conditions due to the low cost of electricity. ....
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