Peter, Vice President of Global Markets at Minebest: The signals for the future of digital mining are mixed

On December 20, the "2019 Digital Mining Summit Forum" hosted by Lieyun Finance was grandly held at the Shenzhen Marriott Hotel. Peter, Vice President of Global Markets at MineBest, delivered a speech entitled "The Future of Mining". Peter believes that the signals for the future of digital mining are mixed. In May 2020, the third BTC halving cycle is coming. The impact of the halving period makes the digital asset market more uncertain, and the reduction in block rewards will force small miners with low profit margins to concentrate on the top mining capital to cope with the strong trend of BTC halving. Subsequently, Minebest.com had the honor of interviewing Peter, Vice President of Global Markets at Minebest, together with many media reporters. The following is the full content of the conversation:

Wagecoin.com compiled based on the recording

Kiki: Does your company have any plans for mining in China?

Peter: Minebest has established a mining farm in northern China with a capacity of 10MW. China is our first country besides Kazakhstan, and we also hope to find good mining resources in China.

Kiki: What are the advantages of mining overseas for miners?

Peter: The first is that electricity costs for mining overseas are relatively cheaper because electricity costs in the Chinese market vary between flood season and dry season.

The second is that overseas policies are more stable, while China’s policies on mining will fluctuate somewhat.

Art Creation Times: What is Minebest's market layout in China? What are the differences between overseas and domestic mining?

Peter: Minebest is currently looking for more partners in China, including looking for good mining resources around the world. This year, Minebest established a branch in Shenzhen, and its focus will also be on China.

For domestic miners, building a mine overseas will cost more and take longer, so the construction cost in China will be more advantageous.

Planet Daily: What is the local policy in Kazakhstan?

Peter: Minebest has three mining farms in Kazakhstan. The Kazakhstan government supports mining, the electricity bill is relatively cheap, and the import tariffs for machines into Kazakhstan are also very cheap.

Planet Daily: Where does Minebest get its funding from? Is it raising funds?

Peter: Minebest currently uses its own funds, but of course we welcome other partners to invest.

(over)

*Original article from Wabi.com. Please do not reprint without permission.