More and more people choose Sichuan Province, China as the first choice for Bitcoin mining. The Bitcoin mining industry is booming in Sichuan.

Golden Finance News - According to some domestic media reports, there are more than 20 mining companies, including nearly 10,000 bitcoin miners, mining bitcoin in a Yi autonomous county in Kangding area of ​​Sichuan Province, which is colder than other areas.

In the Bitcoin mining industry, electricity cost structure is an important variable. Image source: Golden Finance

Bitcoin mining is done here because of its very cheap electricity, low population density, and cold climate.

Anyone who has some understanding of the logic of Bitcoin mining knows that for Bitcoin mining, if it is considered as an industry, its cost structure includes the cost of Bitcoin mining machines, electricity costs, and labor costs. Among these three, electricity costs are the ones with a lot of room to become variables.

Therefore, more and more people are choosing Sichuan Province, China, as their first choice for Bitcoin mining. Moreover, this recent growth is almost an exponential trend.

1,500 mining machines produce more than 10 units of Bitcoin every day. Image source: Golden Finance

In the Bitcoin mining industry, the electricity cost structure accounts for an important variable in the subsequent normal mining process, and once this variable changes, there is an opportunity to earn more profits than other peers.

Moreover, there is a very important reason for choosing Sichuan. The water system in Sichuan is relatively developed, so there are a lot of hydropower stations of all sizes.

Because Bitcoin mining equipment makes a lot of noise when running, if the mining machine is placed in a crowded place, it will affect the life and production of the surrounding residents. Therefore, the reason why miners choose such a place is also because there are few people here and there is no need to worry about noise complaints.

For example, a miner said that 1,500 mining machines in a room can produce more than 10 units of Bitcoin every day. According to the current price, the daily income is close to 70,000 yuan, which is a considerable income.