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Mongolia’s Cheap Electricity Draws Japanese Bitcoin Miners Seeking Profit



A combination of cheap electricity and cold weather has started to draw a growing number of Japanese bitcoin miners to Mongolia, a country sandwiched between China to the south and Russia to the north. Amid falling mining revenues in other regions of the world due to the current crypto bear market, companies that have set up shop in Mongolia have found they can still run profitable mining operations.

Also read: China Announces New Regulations for Blockchain Companies to ‘Promote Healthy Development’

 Business Environment Harsh But Mongolia Is Still Profitable

Tokyo-based e-wallet company Ginco is operating two mining farms in Ulaanbaatar, ...

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