![Bitcoin-Mining[1].png](https://images.hive.blog/768x0/https://steemitimages.com/DQmfNBd1PomBuohqENGEu9KJAbXW16ge3DwjFqX3QchjFdT/Bitcoin-Mining%5B1%5D.png)
University of Cambridge Research did a study about cryptocurrency mining and the countries that are best suited for it, and guess which country topped the list??
There are four key ingredients that make the ideal conditions for cryptocurrency mining
- low-cost electricity
- cold weather
- reliable internet
- low population density
Countries like Sweden and Iceland are good examples that have all satisfy all these 4 ideal conditions, but China stood first in the list.
![Zipingpu_Dam_North_of_Dujiangyan[1].jpg](https://images.hive.blog/768x0/https://steemitimages.com/DQmd72CBAeyudJe3D8sgzAzF7CU21XELXA88zKcfKi3Hzqj/Zipingpu_Dam_North_of_Dujiangyan%5B1%5D.jpg)
This is due to its under-utilised infrastructure in provinces like Szechuan where vast amounts of cheap electricity is being produced through coal and hydro-electric dams. These areas are less populated and a lot of this electricity would otherwise go to waste.
Some of these hydro-facilities have even started Bitcoin mining as a way of using the excess electricity that is being generated.
However, China government has started cracking down on these mining centers lately and they have been moving out into neighboring countries.
Iceland is now looking to tax miners
yes you are correct, all these countries are now coming up with new rule as its evident that crypto currency is going to stay for ever
Pretty interesting stuff, thanks for sharing!
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http://uk.businessinsider.com/why-china-mines-more-bitcoin-than-any-other-country-2017-12