Bitcoin price boosts miner interest: A surge in Bitcoin’s price to 108,000 USD has attracted new miners to the cryptocurrency market, leading to increased demand for mining equipment, especially notable in regions like Shenzhen.
Electricity costs drive mining profitability: Countries like Russia and Canada, with low electricity costs of around 0.02 USD per kWh, are prime locations for profitable Bitcoin mining, encouraging bulk purchases of machines by foreign miners.
Optimistic forecasts for Bitcoin’s future: Experts predict that Bitcoin’s price could reach 200,000 USD next year, enhancing its appeal as an investment due to its capped supply of 21 million coins.