US MGT Group builds giant Bitcoin mine to challenge China's monopoly

According to data, more than 51% of the computing power of the Bitcoin mining industry is currently concentrated in three major mining pools, all of which are operated by Chinese. This issue has attracted the attention of many members of the Bitcoin community. They believe that decentralized computing power is conducive to the healthy development of the Bitcoin network. In addition, they are also worried that the Chinese government will eventually take over Bitcoin.

China's Bitcoin mining industry has great advantages for a variety of reasons. First, China's labor costs are cheaper than in other parts of the world, and China's strong industrial manufacturing capabilities will provide miners with ideal mining hardware conditions. In addition, China has lower electricity costs than developed countries, which will increase the region's global advantage in Bitcoin mining.

In order to break the monopoly of Chinese Bitcoin companies ,   MGT, a company led by John McAfee, announced that it will build a super-large-scale Bitcoin mining farm in the United States. The mine's hydroelectric power facilities have been installed in Washington State and are expected to form computing power on August 1.