Recurring pattern: miners flood some place that has cheap electricity.
At first, they're welcome for the $$ they bring, high tech business, build-out of local infrastructure & whatnot.
Then, power grid problems, locals get angry, there's a crackdown & the miners move elsewhere. Rinse & repeat.
Next stop: Ethiopia?
Edit: the simple fact that there's a growing list of places/countries where crypto miners aren't welcome any more, should tell you something about the nature of this business.
Recurring pattern: miners flood some place that has cheap electricity.
At first, they're welcome for the $$ they bring, high tech business, build-out of local infrastructure & whatnot.
Then, power grid problems, locals get angry, there's a crackdown & the miners move elsewhere. Rinse & repeat.
Next stop: Ethiopia?
Edit: the simple fact that there's a growing list of places/countries where crypto miners aren't welcome any more, should tell you something about the nature of this business.