Chinese Bitcoin miners “not even in the mood to drink”

China, once home to about 65% of the total mining power of Bitcoin (BTC), has given some of the country’s miners a head start.

The country’s Bitcoin mining ban has forced miners to shut down as some facilities moved their hardware overseas.

Tweet On Wednesday, Kevin Zhang, vice president of crypto mining consultancy Foundry, said the mood among Chinese miners had turned sour, adding:

“The mood is obviously pretty gloomy and the reality is that it’s GG to mine in China. Several mining buddies have been stuck in Sichuan since the Bitmain conference to ease their sadness. Now … 酒 都不 想喝 了 – “not even in the mood to drink.”

According to Zhang, China’s Bitcoin ban has shut down about 70% of the country’s mining capacity, and nearly 90% will be offline by the end of June.

For some miners, the ban goes beyond the shutdown as power plants in certain areas in Sichuan Province have sent eviction notices to bitcoin miners. Affected miners should not have more than two weeks to uninstall their entire operational infrastructure, including racks and containers.

As Cointelegraph previously reported, several large Bitcoin miners have started opening stores in other countries. BTC.com, the fifth largest Bitcoin mining pool by hash rate distribution, is reportedly moving to Kazakhstan.

Connected: Electricity is refused, the fifth largest mining pool in the world is leaving China for Kazakhstan

In early June, Miami Mayor Francis Suarez issued an open invitation to Chinese miners, offering the city’s cheap nuclear power and cheap regulations as an incentive.

However, Zhang argues that overseas emigration of Chinese miners can be temporary. With storage capacities reportedly oversubscribed outside of China, miners may face higher costs in other countries.

Moving to the US could also pose another major cost problem for miners due to the 25% US tariffs on Chinese goods.