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Crypto mining reportedly rises in Thailand due to Chinese crypto ban
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Retail cryptocurrency mining in Thailand has apparently received a boost due to the capitulation of Chinese miners triggered by the country’s new crypto mega ban enforced in September.
Thai entrepreneurs and cryptocurrency businesses have been increasingly capitalizing on Chinese miners getting rid of their crypto mining machines, Al Jazeera reported Wednesday.
“The moment China banned crypto, we were ecstatic,” one Thai-based Bitcoin (BTC) enthusiast and turned miner said.
The miner, who asked to remain anonymous, claimed to have set up a small solar-powered crypto mining unit for about $30,000. “I made it all back in three months,” he said.
Another industry entrepreneur, Pongsakorn Tongtaveenan, started a reseller business for crypto mining
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Thailand government to clear up crypto tax confusion cointelegraph.com /2 years ago
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