05:21How China became a haven for Bitcoin mining
From the creator
Business Insider UK spoke with University of Cambridge Research Fellow Garrick Hileman about cryptocurrency mining and the countries that are best suited for it and why China produces the most Bitcoin of any country. He explains that there are four key ingredients that make the ideal conditions for cryptocurrency mining; low-cost electricity, cold weather, reliable internet and low population density. Countries like Sweden and Iceland are good examples of this but Hileman says that China has become a haven for cryptocurrency mining. This is due to its under-utilised infrastructure in provinces like Szechuan where vast amounts of cheap electricity is being produced through coal and hydro-electric dams. These areas are less populated and a lot of this electricity would otherwise go to waste. Watch the full interview to find out more. -------------------------------------------------- Follow BI UK on Twitter: http://bit.ly/1Nz3jG3 Follow BI UK on Facebook: http://bit.ly/1VWDkiy Follow BI UK on Instagram: http://bit.ly/2gsLEds Read more on BI UK: uk.businessinsider.com -------------------------------------------------- Business Insider UK is the largest business news site for British readers and viewers in the UK. Our mission: to tell you all you need to know about the big world around you. The BI UK Video team focuses on business, technology, strategy, and culture with an emphasis on unique storytelling and data that appeals to the next generation of leaders.
Published 2017-12-13 · Watch on YouTube ↗
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