September 26, 2021

Opinion: the yield of American miners will increase due to the collapse of oil

Opinion: the yield of American miners will increase due to the collapse of oil

Andreas Antonopoulos believes that American bitcoin miners may soon become more competitive and profitable.

According to Andreas, a record drop in oilwill lead to lower electricity prices, given that 36% of its total in the United States is provided with oil. New tariffs can significantly increase the profitability of mining farms, especially in the south of the country - in Texas.

Recall that recently in Texas, the largestUS oil producing region, opened a large mining center. Modern American oil production plants significantly reduce costs through the use of fracking (Hydraulic fracturing), and even lower the cost of oil.

Thus, American miners get the opportunity to compete with China, which generated 66% of the bitcoin hash last year.

Antonopoulos notes that most regions, with the exception of coal economies such as China, will benefit from lower unit costs of electricity.

Subscribe to ForkNews on Telegram