In anticipation of the upcoming Bitcoin (BTC) halving event, thousands of outdated Bitcoin mining machines in the United States are being prepared to be shipped overseas.
SunnySide Digital, a wholesaler in the cryptocurrency mining industry, is shipping approximately 6,000 older Bitcoin mining machines to a warehouse it operates in Colorado Springs, Bloomberg reported.
The company plans to refurbish and resell the machines to overseas buyers, particularly in areas with lower energy costs.
SunnySide Digital CEO Taras Kulyk said the decision was a natural reaction to the halving event. Buyers are looking for places where electricity bills are minimized. Countries such as Ethiopia, Tanzania, Paraguay and Uruguay are becoming key players in the global mining landscape due to their favorable energy costs.