8 shares

Highlights

  • Serbia is quickly becoming the next bitcoin mining hub
  • Thanks to the cheap electricity and small population
  • New market entrants are quickly realizing the importance of cheap and abundant electricity

Ever since Bitcoin’s incredible rally in 2017, people have been continuously looking for get rich quick schemes. People don’t always find what they are looking for and most of them end up losing a lot of money. But some people, which a little research and a knack for saving money can achieve lot of things. Bitcoin Mining is one such game. 

For newcomers to stay in the game and achieve positive earnings Is possible perhaps by simply moving your mining rig abroad to a place with lower maintenance costs can potentially solve all your conundrums related to long term profit. Its growth has been observed by not only small-time mining congregates but by huge cloud mining companies as well, which offer their customers the option to purchase mining rigs and store them remotely. 

For remote mining, location is usually the biggest factor. 

Serbia – The New Player in Town

Belgrade, Serbia

Serbia has recently emerged as as huge player in bitcoin mining. The three main quotas for a profitable mining operation include: Temperature, Low-cost electricity and fast broad-band internet.. Places in Serbia like Irkutska, offer impressively low electricity costs and at the same time, have a low population which won’t be disturbed by the constant noise from the mining rigs. 

Serbia although not officially part of the EU does enjoy a good deal of privileges from the European Union and stands neutral from the point of legality towards crypto-currencies. By choosing Serbia to be your patron for mining crypto-currency, you stand to benefit significantly even in times when the price for Bitcoin and other alt-coins are fluctuating bellow it’s mining profitable price.

Traditionally China, Iceland and other countries with abundant energy have been attractive to miners. But China’s roller coaster outlook towards cryptocurrencies and Iceland’s distance from mainland may prove beneficial to the Serbs as the country is centrally located and doesn’t have anything against the growth of cryptocurrencies. 


Like it? Share with your friends!

8 shares

What's Your Reaction?

lol lol
0
lol
omg omg
0
omg
win win
0
win
fail fail
0
fail
love love
0
love
wtf wtf
0
wtf
cute cute
0
cute
scary scary
0
scary
Sudarshan M

Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it didn’t take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject. He is currently a researcher at the University of Nicosia. He is also the author of two research papers and a book on Blockchain’s future in Education titled: An Academic Overview of Blockchain - Applications in Educational Institutions. Sudarshan is an entrepreneur, blogger, educator, researcher and an avid proponent of Dogecoin. Such coin, Much wow.

Leave a Reply

Please Login to comment
  Subscribe  
Notify of
Choose A Format
Story
Formatted Text with Embeds and Visuals
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item