Bitcoin mining in thailand

An ordinary factory from the outside, inside row upon row of machinery sits quietly at work in the dim light, in an enormous 16, sqm space. This mining operation is said to be the biggest in Southeast Asia and the bounty it is looking to unlock has become more valuable than ever before. Behind the fluctuating rise of Bitcoin lies the cold, constant reality of how it is accessed. The nature of its software means each Bitcoin transaction requires a large amount of electricity and leaves a carbon footprint that is worsening the onset of climate change. Just like in when the price for Bitcoin dramatically spiked, the latest run has seen budding investors flock to cryptocurrency markets in search of a quick fortune.

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Content:

• cryptocurrency mining booms in thailand after crackdown in china
• Bitcoin Mining Companies Exiting China As Authorities Crackdown On Cryptocurrencies
• Cripto Pato
• Business Tech
• Thailand’s Major Cineplex mines crypto craze by taking Bitcoin for tix
• Vietnam stops bitcoin mining imports
• While Bitcoin price surges, ramped up cryptocurrency mining takes heavy toll on the planet
• Thailand telecoms firm to expand into Bitcoin mining
• Collapse of China’s Bitcoin mining fuels growth of retail crypto mining in Thailand

WATCH RELATED VIDEO: Crypto mining reportedly rises in Thailand due to Chinese crypto ban

cryptocurrency mining booms in thailand after crackdown in china

Are you a techie who knows how to write? Then join our Team! English native speakers welcome! German-English-Translator - Details here English native speakers preferred. The ongoing global chip shortage and crypto mining boom has left gamers once again struggling to find new top-end graphics cards at reasonable prices. But of course, such enterprises come with inherent risks, as demonstrated by a farm in Thailand. According to CityNews via PCGamer , emergency services in the northern Thai province of Chiang Mai rushed to a building fire only to witness the destruction of a supposed bitcoin mining farm.

The images provided in the report show firefighters dealing with the aftermath, which includes documenting the damage inside. The one image of the hardware being used in the crypto mining farm does suggest that ASIC miners were being used, due to the design of the units and their farm layout racked differently to typical GPU-based farms.

Regardless of what devices were being used for the work, there will be plenty of gamers out there who will feel these particular crypto miners got a fair comeuppance. All images: Citylife. One for the gamers: Crypto mining farm perishes in conflagration in Thailand The bitcoin mining farm was wrecked by a fire.

Image source: Citylife - edited A crypto mining farm has seen an untimely end thanks to a fire in a town in northern Thailand. Working For Notebookcheck. Source s. Related Articles. Cryptocurrency execs testify before U. Even Microsoft can't get its hands Tesla launches road noise reduction My interest in technology began after I was presented with an Atari XL home computer in the mids.

I especially enjoy writing about technological advances, compelling rumors, and intriguing tech-related leaks. I have a degree in International Relations and Strategic Studies and count my family, reading, writing, and travel as the main passions of my life.

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Bitcoin Mining Companies Exiting China As Authorities Crackdown On Cryptocurrencies

On the morning of December 3, according to CityNews, a cryptocurrency mining server farm in Chiang Mai, Thailand, caught fire. However, Mae Ping Police stated that no one was inside the building at the time of the incident, so the incident should result in only financial hardships. Crypto mining, on the other hand, is almost always a power-hungry process, so the specifics are probably irrelevant. However, enthusiasts who have been unable to purchase new graphics cards at retail prices are likely to scoff at the situation. Miners have unfortunately added to the ongoing GPU shortage by buying anything they can get their hands on to make a quick buck.

Cripto Pato

Before now, some countries have mapped out some crypto taxes for transactions on cryptocurrency assets within their jurisdiction. Thailand is one of the countries that proposes some taxation plans. As the new year begins, the revenue department of Thailand is setting up its measures for implementing its tax plans on crypto traders this January. The move is to provide more clarifying information on the tax over crypto-related activities. According to the director-general of the revenue department, this month will mark the finalizing of the criteria for tax calculations which will be on crypto trading profits. He told the department to analyze the issue and map out the taxation plans for the investors and the entire public. The Thai Digital Asset Association, while seeking clarifications, got in touch with the revenue department on Sunday. A local media reports that the association seeks to know more concerning withholding taxes and capital gains. Suppakrit Boonsat, the President of the Association, stated that many cryptocurrency investors accept the taxation. However, their concern is making moves that may violate the Revenue Code.

Business Tech

Jasmine Technology Solution Pcl stock has more than tripled since the plan was announced in late July, although the cryptocurrency project has yet to generate significant earnings for the firm. Jasmine Technology is just one of many Thai firms diversifying into the digital-asset arena. Enthusiasm for crypto products, especially among young investors, has driven trading in locally-licensed exchanges to a series of new record highs -- prompting regulators to propose tighter rules. Jasmine Technology has generated only eight Bitcoins from its mining machines since operations were started a few month ago. Soraj expects next year to be much more active, driven by plans to invest about 3.

Thailand’s Major Cineplex mines crypto craze by taking Bitcoin for tix

Crypto opportunism — The misfortune of Chinese bitcoin miners has made some Thai entrepreneurs happy, taking advantage of the umpteenth crackdown on cryptocurrency in China. But can Thailand become a new paradise for crypto companies? The exit of Chinese miners, which was accompanied by a decrease in the difficulty of hashing, has also benefited miners around the world who have remained active, and who have been able to mine bitcoin relatively cheaply. The entrepreneur mentions two factors that would explain the growing popularity of detai mining l In the country: Residents are looking for a new stable source of income during the pandemic, and investors are more optimistic about the future of cryptocurrencies. The central bank is working with the Thai SEC and the Ministry of Finance to define specific restrictions to cryptocurrencies.

Vietnam stops bitcoin mining imports

Are you a techie who knows how to write? Then join our Team! English native speakers welcome! German-English-Translator - Details here English native speakers preferred. The ongoing global chip shortage and crypto mining boom has left gamers once again struggling to find new top-end graphics cards at reasonable prices.

While Bitcoin price surges, ramped up cryptocurrency mining takes heavy toll on the planet

A report by the Bangkok Post this week claimed that the infrastructure behind the coin is ready to go, with approval from the Thai government the final hurdle. TAT governor Yuthasak Supasorn said that whilst the private sector is ready for the coin, there is still work to do within the government until it is approved. Bloomsbury Publishing chief executive Nigel Newton joined Proactive's Stephen Gunnion with details of a trading update for the year to end-February, which detailed profit that was materially ahead of market forecasts as recent sales came in higher than expected. Newton telling Proactive that

Thailand telecoms firm to expand into Bitcoin mining

RELATED VIDEO: We tried to SURVIVE on CRYPTO in Thailand (Zcoin)

And this, in turn, has led to a surge in crypto mining activities in Thailand, per Al Jazeera reports. After the ban, affected Chinese miners had to recoup some of their investments one way or the other. This led them to sell off their mining machines at a bargain price. In line with the situation, many of the mining firms also had to relocate to various other countries that permit mining activities, including Kazakhstan, Russia, the United States, and Southeast Asia. And according to him, since there is an unending demand for the machines, the prices surged reaching the previous levels. For Thailand, the fast-growing popularity of crypto mining in Thailand is simply because residents are becoming more optimistic about the future of cryptocurrency in the country.

Collapse of China’s Bitcoin mining fuels growth of retail crypto mining in Thailand

By Tygerl , June 26, in Cryptocurrency News. I'm considering importing an asic miner into Thailand. Does anyone have any recommendations on the best way to do this? Lazada : No finacially viable miners available. A lot of fake looking lazada store on there. Alibaba : I'm conserned about the import duties, anyone manage to import?

Crypto opportunism — The misfortune of Chinese bitcoin miners has made some Thai entrepreneurs happy, taking advantage of the umpteenth crackdown on cryptocurrency in China. But can Thailand become a new paradise for crypto companies? The exit of Chinese miners, which was accompanied by a decrease in the difficulty of hashing, has also benefited miners around the world who have remained active, and who have been able to mine bitcoin relatively cheaply. The entrepreneur mentions two factors that would explain the growing popularity of detai mining l In the country: Residents are looking for a new stable source of income during the pandemic, and investors are more optimistic about the future of cryptocurrencies.