Crypto Miners Find Safe Haven in Japan

In lieu of increasingly stringent regulation, cryptocurrency miners are moving to new regions for low-cost, efficient operations.

As an original blockchain hub, Japan has become a fitting home to many crypto miners seeking secure haven.

Unlike China, large-scale mining operations aren't typically known to be prominent on the small island nation of Japan.

Increasing interest in cryptocurrency and affordable industrial electricity are drawing new crypto miners towards the opportune Japanese countryside.

Although electricity costs aren't the cheapest in the world, Fukui has more affordable electricity rates than Tokyo and gives domestic mining clients easier access to the facility.

The cost of electricity is a fundamental factor in the profit margins of cryptocurrency mining, as a standard facility can consume up to 2000 kW per day.

Alt Design's operation uses around 500 GPU and ASIC miners to run 24/7 mining of Bitcoin and Ethereum in what once was a former lace factory.

A migration to rural Japan from China or other centralized mining hubs would mean greater decentralization of cryptocurrencies.

Although still in its early stages, cryptocurrency regulation is constantly changing and making it difficult for crypto miners to settle down with long-term peace of mind.

Just like the mid-19th-century gold rush, crypto miners are setting out on a global mission to capture their share of digital gold.