Russia Buys Half Of The Chinese Mining Rigs For Sale: USA, Kazakhstan and Canada Right Behind

2021-11-25 23:25:16

As a result of the ongoing Chinese crypto crackdown, 14 of the largest mining operations decided to withdraw more than 2 million crypto mining rigs out of China. And out of the 430.000 total Chinese rigs for sale, Russia, USA and Kazakhstan obtained almost all of them.

More specifically, out of the total amount of 430.000, Russia will get more than 205.000 crypto mining rigs. Out of this total amount, 200.000 rigs will go to Bitriver, a Russian crypto mining company. Additionally, 5.000 or more will end up at Bit Cluster, another Russian crypto solutions firm.

Coming in second is the Asian country of Kazakhstan. In fact, it is rather surprising how big of a crypto mining hotspot Kazakhstan has become in recent years. Up to such extent, that Kazakhstan is the host for the majority of the ‘migrated’ Chinese mining firms.

Consequently, Kazakhstan is home to 87.849 crypto mining rigs from China, with 80.000 coming from the Bitfufu. In addition, BIT Mining sent another 7.849 mining rigs just a few months back, in August.

The third country to get the most amount of mining rigs is the United States of America. In fact, ever since the start of China’s war on crypto, the crypto mining operations doubled, if not even more. This results in the USA accepting 87.200 mining rigs from China.

Fourth place is for Canada, which received 35.400 Chinese mining rigs. Coming in fifth and sixth, are two countries from South America. Paraguay with 15.500 mining rigs, and Venezuela with 7.000 Chinese rigs.

The 430.000 Chinese crypto rigs for sale is just one consequence of the ongoing Chinese war on cryptocurrencies. In fact, due to this relentless war, the overall price of the mining equipment notices a very big decline. Up to such extent, that it went down by a whopping 42%, in just 3 months.

That is why the majority of Chinese crypto enthusiasts and miners alike flooded Kazakhstan. And considering that this is not just a temporary operation by the Chinese government, crypto miners from China are already forced to seek viable permanent solutions.

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