Kangding is located in a valley of the Tibetan Plateau west-southwest of Chengdu, the provincial capital. It is a city populated by both Tibetans and Han, and is part of the historical Tibetan region of Kham. A raging river splits the city, thus the constant sound of water reverberates throughout the city.
Kangding is also the home of bitcoin company HaoBTC’s mining farm.
HaoBTC’s main office is located in Beijing, China. But the mountainous regions of Kangding give the bitcoin exchange and mining company room to operate. With low electricity costs from Chinese government subsidies, cheap equipment and manufacturing costs with access to the newest ASIC mining chips, and the cool climate, it’s ideal for mining digital currency. The average high temperatures in Kanding ranges from 53 degrees Fahrenheit to 71 degrees year round.
And in this video below just published by Eric Mu, the CMO of HaoBTC, it really puts the bitcoin mining operation on display. In the video, it shows three warehouses full of bitcoin mining equipment. The mining racks line the walls of each warehouse, which produce intense amount of heat. Above the racks are huge fans blowing the hot air out of the warehouse.
The mining farm generates 33PH hashrate. 1 PH is 1,000,000,000,000,000 (one quadrillion) hashes per second. The miners deployed are Avalon 6 and Bitmain S7.
It’s not hard to imagine why bitcoin mining has become a huge business opportunity in China, with much of the bitcoin mining located there. In May, Chinese company Bitbank raised $1.5m to fund a new bitcoin mining facility.