Chinese miners have difficulties in new jurisdictions

According to the latest reports, crypto currency miners from China began to migrate to the regions of Southeast Asia such as Vietnam, Myanmar and Cambodia. However, one of the miners recently settled in Cambodia, said that his colleagues trying to find refuge in other countries of South-East Asia, like himself, have difficulty and every month lose money because of complaints of residents and unreliable power.

Mining in China is still allowed, but it has long been rumored
about possible prohibitions, and government intensifies
pressure on the industry. Because of this, many mining companies based in the country, began to seek
more attractive jurisdiction for doing business.

Some firms that still prefer to enjoy the benefits of cheap Chinese electricity tariffs, has moved into a border town in Yunnan province. However, many of them moved to other countries in Southeast Asia such as South Korea, Vietnam, Cambodia and Myanmar. While government officials and residents living in these regions, they are not very happy, according to Chinese miner Zhang Han (Zhang Han).

Zhang says that he has friends miners who are already «occupied» the suburbs of Cambodia and Myanmar. He conducted his own research and found that some areas in Southeast Asia continue to offer much cheaper electricity than any other country in the world. However, the miner is not too happy with my move to Cambodia, and States that do regret it. First, Zhang found that the energy in some regions of Cambodia is quite expensive, though, and in most cases cheaper than other countries.

«Electricity in Cambodia more expensive than Vietnam and Myanmar, but some other costs are lower,» explains Zhang in a recent interview. «In Cambodia the cost of electricity for enterprises is about the same as in China, and is about 1.7 yuan (20 cents) per kW/h. However, local residents have the opportunity to take electricity used, for example, for street lighting».

Zhang explains that the associated costs and maintenance operations causes the most problems.

«Maintenance and purchase of equipment is a great difficulty. In addition, the cost of supply is very high,» explains Zhang. «Equipment maintenance is a real problem. It costs huge sums — at least 3 times higher than in China, especially in hot weather. Purchase of spare parts too has complexity. Since we have no choice but to buy them in China, you have to wait several days or even weeks until they are delivered here. From time to time we go to the local miners for help, and they take the opportunity and ask too high a price for minor details».

After moving Zhang realized that Cambodia suffers from long power outages — electricity may not be the whole day or even longer. Miner says that sometimes it works to get in touch with your local energy company which allows them to take to supply electricity to a nearby street lamp. However, local residents can inform authorities that happens quite often.

Zhang said that the locals now not too friendly to the Chinese miners. In addition, the local miners and financial institutions, supported by Western countries are also unhappy with the migration of companies from China.

«In addition to local residents and miners, organizations funded by Western countries are also unfriendly to begin with — in my opinion, they are trying to squeeze us out of here,» concludes Zhang.

 

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