TEXAS IS THE BEST PLACE TO MINE BITCOINS

TEXAS IS THE BEST PLACE TO MINE BITCOINS

By Blockchain Times | BLOCKCHAIN WIRES | 22 May 2020


Texas has one of the cheapest rate for electricity in the World so for it is th best place for miners to mine bitcoin here as technically bitcoin mining is the conversion of electrical power into hash power .07b466b36d4319fd14c6e4c494f7ab96e0fb03fd5575bf649456a46facb9134e.jpeg

Peter Theil backed startup Layer 1 has started mining in 2018 in the land of texas by operating their own power houses .Layer 1 technologies wants to make texas a global hub of bitcoin mining and to steals a bitcoin mining crown from China which has largest mining companies like bitmain and about 65% of Hash power concentrated in China alone which is like a threat to the decentralized integrity of bitcoin.a929bec7b0c1a17ed60d8ebf02be3c878936170a2f0870bb746f8bdfbd76032e.jpeg

Layer 1 says operation of mining companies in texas will make bitcoin more centralized by taking share from CHINA.Bitcoin mining typically takes place in colder areas because it is easier to prevent its equipment from over heating while layer says its cooling technology will make texas viable for mining industry.Bitcoin mining had become very competitive business if layer 1 successfully survive in mining industry It could shake the while geography of bitcoin mining.

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