A new report from Bloomberg shows that a large number of Bitcoin miners are moving their mining equipment from the United States to Africa and South America. According to reports, around 600,000 S19 mining rigs are undergoing this transfer ahead of the Bitcoin halving. Behind this action is the significant drop in electricity prices in these areas, which has attracted the attention of miners. Interestingly, the unit price of these mining rigs was once as high as $11,500, but it is said that it may drop to $350 after the halving.

This trend prompted me to think deeply about the Bitcoin mining landscape. It shows that miners are extremely concerned about mining costs and are willing to travel far away for cheaper energy costs. This also reflects the fierce competition and globalization trend in the Bitcoin mining market. For investors, this means paying close attention to global energy markets and geopolitical developments, as these factors will directly impact Bitcoin’s mining costs and market supply.