China’s three major regulatory agencies have listened to the central carbon neutral development needs and joined forces to block Bitcoin mining and trading. They have shut down virtual currency mines everywhere. China’s attitude towards Bitcoin is very resolute. The number of coin mines and miners will continue to shrink, and the share of computing power in the world will continue to decline; this may also mean that the era of China's bitcoin mining has come to an end, and overseas bitcoin mining such as North America has begun to rise.

China's mines and miners are facing survival problems, and moving to overseas mining seems to have become the only option. However, it is not simple for mining machines to go to sea, and there are many problems:

First, the relocation and transportation of mining machines will consume a lot of costs, and long-distance transportation across the ocean requires a lot of logistics costs; secondly, the equipment has problems with customs clearance. Take the United States as an example, the United States has a punitive tariff of up to 25%.

Besides, where should the miners be relocated? Before the relocation of the mining machines, it is necessary to find a mining farm that can accommodate these mining machines. In the short term, which mining farm can hold so many mining machines?

If it is a new mine, the mine also needs to be sited. Full load, long cycle, and stable operation are the way to profit from mining. Therefore, when selecting a mine site, safety must first be considered, followed by stable electricity and reasonable electricity prices. Electricity fees and depreciation and amortization of mining machines are the main cost components of Bitcoin mining. The lifespan of a mining machine is about three years, and 50,000 mining machines consume 65,000 kilowatt-hours of electricity per hour, so the price of electricity is very important for Bitcoin mining. Fully qualified idle resources are very scarce.

Even if a suitable site resource is found, the construction of the mine will take a long time, especially in terms of infrastructure. Most countries’ infrastructure costs are 5 or 6 times that of China, and at this time the epidemic is raging. Many countries And regional infrastructure has been suspended.

An outbound operation often takes months or even more time to operate. Therefore, exiting the country is currently only suitable for the mid- to long-term layout of miners. In the short term, exiting from the mine is too difficult and costly.

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