China’s secret Bitcoin mine

Sep 16, 2016 | Industry Release |

https://youtu.be/2Hh-nAg4YOk

In a bamboo hut at a restaurant in the middle of China’s Sichuan province an unlikely industry gathering is taking place.

A large sunken pot of spicy broth is bubbling away on the table which is cluttered with plates of food drowned in oil and chillis, cups of green tea and empty cans of Red Bull.

This restaurant in a small town, about an hour’s drive from Kangding city and not far from the Tibetan Plateau, is surrounded by spectacular mountains, which are only just disappearing into the darkness around 9pm.

 

This Kangding warehouse houses around 10,000 super computers that solve equations around the clock to produce Bitcoin.

This Kangding warehouse houses around 10,000 super computers that solve equations around the clock to produce Bitcoin. Dave Tacon

The only topic of conversation at dinner is the virtual currency Bitcoin.

That’s because Kangding has become one of the biggest Bitcoin mining hubs in the world and the five men around the table all depend on it for their livelihoods.