{"id":545,"date":"2023-10-24T03:58:46","date_gmt":"2023-10-23T19:58:46","guid":{"rendered":"https:\/\/www.hiredchina.com\/articles\/2023\/10\/24\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/"},"modified":"2024-05-21T14:21:28","modified_gmt":"2024-05-21T06:21:28","slug":"rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines","status":"publish","type":"post","link":"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/","title":{"rendered":"Rare Photos Reveal Life Inside China\u2019s Largest Bitcoin Mines"},"content":{"rendered":"<blockquote><p>Sichuan Province is home to one of China\u2019s largest bitcoin mines, where mining machines are used to produce cryptocurrency that is sought by entrepreneurial Chinese investors.<\/p><\/blockquote>\n<p style=\"text-align: justify;\">Sichuan Province is home to one of China\u2019s largest bitcoin mines, where mining machines are used to produce cryptocurrency that is sought by entrepreneurial Chinese investors.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FiFKfs8w08YDsxbPDpgz4oOMJ-ru?imageView2\/0\/format\/webp\/q\/75\" alt=\"youtube.jpg\" width=\"984\" height=\"450\" title=\"\"><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Photo_Youtube\" title=\"Photo: Youtube\">Photo: Youtube<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Photo%EF%BC%9A_Bitconnect\" title=\"Photo\uff1a Bitconnect\">Photo\uff1a Bitconnect<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#A_Bitcoin_%E2%80%9Cmine%E2%80%9D_with_a_blue_tin_roof_sits_next_to_a_hydroelectric_power_plant_in_Ngawa_Aba_Tibetan_and_Qiang_Autonomous_Prefecture_Sichuan_Province_Located_at_the_eastern_edge_of_the_Tibetan_Plateau_the_area_has_abundant_hydropower_a_key_factor_in_making_energy_intensive_mines_cost_effective_Electricity_typically_accounts_for_60-70_of_a_bitcoin_mines_expenses_Photo_nextsharkcom\" title=\"A Bitcoin \u201cmine\u201d with a blue tin roof sits next to a hydroelectric power plant in Ngawa (Aba) Tibetan and Qiang Autonomous Prefecture, Sichuan Province. Located at the eastern edge of the Tibetan Plateau, the area has abundant hydropower, a key factor in making energy intensive mines cost effective. Electricity typically accounts for 60-70% of a bitcoin mine\u2019s expenses.\u00a0 Photo: nextshark.com\">A Bitcoin \u201cmine\u201d with a blue tin roof sits next to a hydroelectric power plant in Ngawa (Aba) Tibetan and Qiang Autonomous Prefecture, Sichuan Province. Located at the eastern edge of the Tibetan Plateau, the area has abundant hydropower, a key factor in making energy intensive mines cost effective. Electricity typically accounts for 60-70% of a bitcoin mine\u2019s expenses.\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Employees_use_their_phones_at_the_Bitcoin_mine_The_mine_has_550_%E2%80%9Cmining_machines%E2%80%9D_running_continuously_They_solve_complicated_mathematical_problems_for_which_they_are_rewarded_with_Bitcoins_Seven_employees_work_in_shifts_monitoring_the_machines_to_keep_the_mine_running_24_hours_a_day_Photo_nextsharkcom\" title=\"Employees use their phones at the Bitcoin mine. The mine has 550 \u201cmining machines\u201d running continuously. They solve complicated mathematical problems for which they are rewarded with Bitcoins. Seven employees work in shifts monitoring the machines to keep the mine running 24 hours a day.\u00a0 Photo: nextshark.com\">Employees use their phones at the Bitcoin mine. The mine has 550 \u201cmining machines\u201d running continuously. They solve complicated mathematical problems for which they are rewarded with Bitcoins. Seven employees work in shifts monitoring the machines to keep the mine running 24 hours a day.\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Liu_XingzheChinaFile_Photo_nextsharkcom\" title=\"(Liu Xingzhe\/ChinaFile) Photo: nextshark.com\">(Liu Xingzhe\/ChinaFile) Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Huang_25_Kuns_brother_inspects_a_malfunctioning_mining_machine_during_his_night_shift_Miners_can_check_a_machines_condition_and_operations_using_phones_and_personal_computers_For_most_issues_they_can_simply_restart_a_machine_%E2%80%9CIf_its_a_complicated_problem_we_just_ship_it_to_the_factory_and_let_them_fix_it%E2%80%9D_Huang_said_Photo_nextsharkcom\" title=\"Huang, 25, Kun\u2019s brother, inspects a malfunctioning mining machine during his night shift. Miners can check a machine\u2019s condition and operations using phones and personal computers. For most issues, they can simply restart a machine. \u201cIf it\u2019s a complicated problem, we just ship it to the factory and let them fix it,\u201d Huang said.\u00a0 Photo:nextshark.com\">Huang, 25, Kun\u2019s brother, inspects a malfunctioning mining machine during his night shift. Miners can check a machine\u2019s condition and operations using phones and personal computers. For most issues, they can simply restart a machine. \u201cIf it\u2019s a complicated problem, we just ship it to the factory and let them fix it,\u201d Huang said.\u00a0 Photo:nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#An_employee_at_the_hydroelectric_power_plant_checks_electric_generators_Kun_convinced_the_owner_of_the_hydroelectric_power_plant_to_build_a_Bitcoin_mine_next_to_the_power_plant_Photo_nextsharkcom\" title=\"An employee at the hydroelectric power plant checks electric generators. Kun convinced the owner of the hydroelectric power plant to build a Bitcoin mine next to the power plant.\u00a0 Photo:nextshark.com\">An employee at the hydroelectric power plant checks electric generators. Kun convinced the owner of the hydroelectric power plant to build a Bitcoin mine next to the power plant.\u00a0 Photo:nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Bitcoin_miners_attended_the_first_China_Bitcoin_Miner_Conference_at_Chengdu_Tianfu_Financial_Center_in_Sichuan_Province_Photo_nextsharkcom\" title=\"Bitcoin miners attended the first China Bitcoin Miner Conference, at Chengdu Tianfu Financial Center, in Sichuan Province.\u00a0 Photo:\u00a0nextshark.com\">Bitcoin miners attended the first China Bitcoin Miner Conference, at Chengdu Tianfu Financial Center, in Sichuan Province.\u00a0 Photo:\u00a0nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Packing_boxes_for_mining_machines_pile_up_in_an_employee_dormitory_Kun_recently_purchased_new_mining_machines_the_AntMiner_S7_490_which_has_greater_computing_power_than_the_AntMiner_S5_140_it_would_replace_550_mining_machines_a_combination_of_S7_and_S5_models_running_24_hours_can_mine_25_Bitcoins_a_day_according_to_Kun_%E2%80%94_worth_around_6400_Photo_nextsharkcom\" title=\"Packing boxes for mining machines pile up in an employee dormitory. Kun recently purchased new mining machines: the AntMiner S7 ($490) which has greater computing power than the AntMiner S5 ($140) it would replace. 550 mining machines, a combination of S7 and S5 models, running 24 hours can mine 2.5 Bitcoins a day, according to Kun \u2014 worth around $6,400.\u00a0 Photo:nextshark.com\">Packing boxes for mining machines pile up in an employee dormitory. Kun recently purchased new mining machines: the AntMiner S7 ($490) which has greater computing power than the AntMiner S5 ($140) it would replace. 550 mining machines, a combination of S7 and S5 models, running 24 hours can mine 2.5 Bitcoins a day, according to Kun \u2014 worth around $6,400.\u00a0 Photo:nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Tibetan_women_wait_for_a_party_hosted_by_Kun_to_celebrate_the_mining_machines_upgrade_Photo_nextsharkcom\" title=\"Tibetan women wait for a party hosted by Kun to celebrate the mining machines\u2019 upgrade\u00a0 Photo:nextshark.com\">Tibetan women wait for a party hosted by Kun to celebrate the mining machines\u2019 upgrade\u00a0 Photo:nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Liu_29_stands_in_front_of_a_wall_of_cooling_fans_at_his_Bitcoin_mine_where_he_houses_and_operates_mining_machines_for_miners_who_dont_want_to_move_to_rural_Sichuan_in_Ngawa_Tibetan_and_Qiang_Autonomous_Prefecture_Sichuan_Province_Photo_nextsharkcom\" title=\"Liu, 29, stands in front of a wall of cooling fans at his Bitcoin mine where he houses and operates mining machines for miners who don\u2019t want to move to rural Sichuan, in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan Province\u00a0 Photo:nextshark.com\">Liu, 29, stands in front of a wall of cooling fans at his Bitcoin mine where he houses and operates mining machines for miners who don\u2019t want to move to rural Sichuan, in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan Province\u00a0 Photo:nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Internet_cables_and_power_cables_at_Lius_mine_Photo_nextsharkcom\" title=\"Internet cables and power cables at Liu\u2019s mine\u00a0 Photo:nextshark.com\">Internet cables and power cables at Liu\u2019s mine\u00a0 Photo:nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Sun_in_his_early_twenties_is_an_employee_of_a_Bitcoin_mine_in_Ngawa_Tibetan_and_Qiang_Autonomous_Prefecture_Sichuan_Province_Photo_nextsharkcom\" title=\"Sun, in his early twenties, is an employee of a Bitcoin mine in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan Province. Photo: nextshark.com\">Sun, in his early twenties, is an employee of a Bitcoin mine in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan Province. Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Packing_materials_for_mining_machines_pile_up_beside_the_water-cooling_system_at_Suns_mine_Photo_nextsharkcom\" title=\"Packing materials for mining machines pile up beside the water-cooling system at Sun\u2019s mine\u00a0 Photo: nextshark.com\">Packing materials for mining machines pile up beside the water-cooling system at Sun\u2019s mine\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Suns_colleagues_rest_in_their_dorm_They_live_at_the_mine_which_is_so_remote_the_nearest_public_transportation_is_20_miles_away_in_the_nearest_town_They_pay_to_hitchhike_there_once_a_week_%E2%80%9CThe_good_thing_is_there_isnt_anywhere_to_spend_money_so_you_can_save_your_whole_salary%E2%80%9D_Sun_says_Photo_nextsharkcom\" title=\"Sun\u2019s colleagues rest in their dorm . They live at the mine, which is so remote the nearest public transportation is 20 miles away, in the nearest town. They pay to hitchhike there once a week. \u201cThe good thing is, there isn\u2019t anywhere to spend money, so you can save your whole salary,\u201d Sun says.\u00a0 Photo: nextshark.com\">Sun\u2019s colleagues rest in their dorm . They live at the mine, which is so remote the nearest public transportation is 20 miles away, in the nearest town. They pay to hitchhike there once a week. \u201cThe good thing is, there isn\u2019t anywhere to spend money, so you can save your whole salary,\u201d Sun says.\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Employees_use_their_phones_near_the_mine_Sun_works_Photo_nextsharkcom\" title=\"Employees use their phones near the mine Sun works.\u00a0 Photo: nextshark.com\">Employees use their phones near the mine Sun works.\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Goats_from_a_nearby_village_walk_among_cooling_fans_at_the_mine_Photo_nextsharkcom\" title=\"Goats from a nearby village walk among cooling fans at the mine\u00a0 Photo: nextshark.com\">Goats from a nearby village walk among cooling fans at the mine\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Stacks_of_AntMiner_S9_mining_machines_ready_to_be_shipped_to_clients_around_the_world_at_Bitmain_Technologies_manufacturing_base_in_Shenzhen_Bitmain_and_Canaan_another_Chinese_company_dominate_the_global_mining_hardware_market_Photo_nextsharkcom\" title=\"Stacks of AntMiner S9 mining machines ready to be shipped to clients around the world, at Bitmain Technologies\u2019 manufacturing base in Shenzhen. Bitmain and Canaan, another Chinese company, dominate the global mining hardware market. Photo: nextshark.com\">Stacks of AntMiner S9 mining machines ready to be shipped to clients around the world, at Bitmain Technologies\u2019 manufacturing base in Shenzhen. Bitmain and Canaan, another Chinese company, dominate the global mining hardware market. Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Employees_work_on_an_assembly_line_of_AntMiner_S9_mining_machine_at_Bitmains_manufacturing_base_Shenzhen_Photo_nextsharkcom\" title=\"Employees work on an assembly line of AntMiner S9 mining machine at Bitmain\u2019s manufacturing base, Shenzhen. \u00a0 Photo: nextshark.com\">Employees work on an assembly line of AntMiner S9 mining machine at Bitmain\u2019s manufacturing base, Shenzhen. \u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#A_researcher_works_in_a_lab_at_Bitmains_manufacturing_base_Shenzhen_Photo_nextsharkcom\" title=\"A researcher works in a lab at Bitmain\u2019s manufacturing base, Shenzhen\u00a0 Photo: nextshark.com\">A researcher works in a lab at Bitmain\u2019s manufacturing base, Shenzhen\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#An_employee_puts_labels_on_AntMiner_S9_mining_machines_in_Shenzhen_The_AntMiner_S9_is_the_most_efficient_mining_machine_on_the_consumer_market_right_now_and_is_produced_by_a_Chinese_company_called_Bitmain_Its_current_cost_is_1113_Due_to_the_high_price_of_bitcoin_its_has_been_out_of_stock_for_a_long_time_The_price_in_the_black_market_is_almost_doubled_Photo_nextsharkcom\" title=\"An employee puts labels on AntMiner S9 mining machines, in Shenzhen. The AntMiner S9 is the most efficient mining machine on the consumer market right now and is produced by a Chinese company called Bitmain. It\u2019s current cost is $1,113. Due to the high price of bitcoin, its has been out of stock for a long time. The price in the black market is almost doubled.\u00a0 Photo: nextshark.com\">An employee puts labels on AntMiner S9 mining machines, in Shenzhen. The AntMiner S9 is the most efficient mining machine on the consumer market right now and is produced by a Chinese company called Bitmain. It\u2019s current cost is $1,113. Due to the high price of bitcoin, its has been out of stock for a long time. The price in the black market is almost doubled.\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Bitcoin_miners_add_each_other_on_social_media_Wechat_after_attending_the_first_China_Bitcoin_Miner_Conference_at_Chengdu_Tianfu_Financial_Center_in_Sichuan_Province_They_use_Wechat_to_exchange_information_of_encryption_currency_Photo_nextsharkcom\" title=\"Bitcoin miners add each other on social media (Wechat) after attending the first China Bitcoin Miner Conference, at Chengdu Tianfu Financial Center, in Sichuan Province. They use Wechat to exchange information of encryption currency.\u00a0\u00a0 Photo: nextshark.com\">Bitcoin miners add each other on social media (Wechat) after attending the first China Bitcoin Miner Conference, at Chengdu Tianfu Financial Center, in Sichuan Province. They use Wechat to exchange information of encryption currency.\u00a0\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Employees_work_at_BTCChina_BTCCs_office_in_Shanghais_financial_district_BTCC_was_founded_in_2011_and_is_now_one_of_Chinas_largest_Bitcoin_exchange_platforms_According_to_its_CEO_Bobby_Lee_Chinese_people_like_the_%E2%80%9Conline_gambling%E2%80%9D_feel_of_Bitcoins_instability_also_with_the_Chinese_governments_restrictions_on_many_investment_channels_people_welcome_new_ways_to_invest_their_money_Photo_nextsharkcom\" title=\"Employees work at BTCChina (BTCC)\u2019s office, in Shanghai\u2019s financial district . BTCC was founded in 2011, and is now one of China\u2019s largest Bitcoin exchange platforms. According to its CEO, Bobby Lee, Chinese people like the \u201conline gambling\u201d feel of Bitcoin\u2019s instability; also, with the Chinese government\u2019s restrictions on many investment channels, people welcome new ways to invest their money.\u00a0 Photo: nextshark.com\">Employees work at BTCChina (BTCC)\u2019s office, in Shanghai\u2019s financial district . BTCC was founded in 2011, and is now one of China\u2019s largest Bitcoin exchange platforms. According to its CEO, Bobby Lee, Chinese people like the \u201conline gambling\u201d feel of Bitcoin\u2019s instability; also, with the Chinese government\u2019s restrictions on many investment channels, people welcome new ways to invest their money.\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Employees_use_their_phones_to_play_games_and_watch_TV_drama_near_the_mine_Sun_works_for_Photo_nextsharkcom\" title=\"Employees use their phones to play games and watch TV drama near the mine Sun works for\u00a0 Photo:nextshark.com\">Employees use their phones to play games and watch TV drama near the mine Sun works for\u00a0 Photo:nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#Employee_resembles_calculation_board_at_Lius_mine_Photo_nextsharkcom\" title=\"Employee resembles calculation board at Liu\u2019s mine\u00a0\u00a0\u00a0 Photo: nextshark.com\">Employee resembles calculation board at Liu\u2019s mine\u00a0\u00a0\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#A_29-year-old_Tibetan_named_Kun_walks_in_between_aisles_of_mining_machines_26_September_2016_Kun_is_the_mines_manager_as_well_as_one_of_its_investors_He_learned_about_Bitcoin_through_a_friend_and_started_investing_Photo_nextsharkcom\" title=\"A 29-year-old Tibetan named Kun walks in between aisles of mining machines, 26 September 2016. Kun is the mine\u2019s manager as well as one of its investors. He learned about Bitcoin through a friend and started investing\u00a0 Photo: nextshark.com\">A 29-year-old Tibetan named Kun walks in between aisles of mining machines, 26 September 2016. Kun is the mine\u2019s manager as well as one of its investors. He learned about Bitcoin through a friend and started investing\u00a0 Photo: nextshark.com<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/www.hiredchina.com\/articles\/rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines\/#A_mountain_road_winds_toward_Bitcoin_mines_in_Ngawa_Tibetan_and_Qiang_Autonomous_Prefecture_Sichuan_Province_Sichuan_is_also_called_%E2%80%9Cthe_capital_of_bitcoin_mining%E2%80%9D_Photo_nextsharkcom\" title=\"A mountain road winds toward Bitcoin mines, in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan Province. Sichuan is also called \u201cthe capital of bitcoin mining\u201d.\u00a0 Photo: nextshark.com\">A mountain road winds toward Bitcoin mines, in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan Province. Sichuan is also called \u201cthe capital of bitcoin mining\u201d.\u00a0 Photo: nextshark.com<\/a><\/li><\/ul><\/nav><\/div>\n<h5><span class=\"ez-toc-section\" id=\"Photo_Youtube\"><\/span>Photo: Youtube<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: justify;\">As of this article, Bitcoin is trading around $2,300 after falling below $2,000 over the weekend, which is worth more than the standard unit of gold, which is an ounce.<\/p>\n<p style=\"text-align: justify;\">On the whole, the cryptocurrency market reached $84.9 billion on Tuesday, a 40% increase from a $61 billion low this weekend, CoinDesk reported.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FghnEYX0DypBks945vwJXdAuRAda?imageView2\/0\/format\/webp\/q\/75\" alt=\"Bitconnect.jpg\" width=\"600\" height=\"370\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Photo%EF%BC%9A_Bitconnect\"><\/span>Photo\uff1a Bitconnect<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: justify;\">Chinese photographer Liu Xingzhe visited Sichuan\u2019s Ngawa (Aba) Tibetan and Qiang Autonomous Prefecture, about 175 miles outside of Chengdu, to familiarize himself with how Bitcoin mining machinery works and the miners who live in dormitories taking care of business for days on end.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FsdBdtyML_FCQIqgIBECd4dt92HQ?imageView2\/0\/format\/webp\/q\/75\" alt=\"2.jpg\" width=\"800\" height=\"554\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"A_Bitcoin_%E2%80%9Cmine%E2%80%9D_with_a_blue_tin_roof_sits_next_to_a_hydroelectric_power_plant_in_Ngawa_Aba_Tibetan_and_Qiang_Autonomous_Prefecture_Sichuan_Province_Located_at_the_eastern_edge_of_the_Tibetan_Plateau_the_area_has_abundant_hydropower_a_key_factor_in_making_energy_intensive_mines_cost_effective_Electricity_typically_accounts_for_60-70_of_a_bitcoin_mines_expenses_Photo_nextsharkcom\"><\/span><strong>A Bitcoin \u201cmine\u201d with a blue tin roof sits next to a hydroelectric power plant in Ngawa (Aba) Tibetan and Qiang Autonomous Prefecture, Sichuan Province. Located at the eastern edge of the Tibetan Plateau, the area has abundant hydropower, a key factor in making energy intensive mines cost effective. Electricity typically accounts for 60-70% of a bitcoin mine\u2019s expenses.\u00a0 Photo: nextshark.com<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p>According to ChinaFile, one worker, who lives in one of the dorms with his colleagues, said that the nearest town is about 20 miles away, paying to hitchhike there once a week.<\/p>\n<p><strong>\u201cThe good thing is, there isn\u2019t anywhere to spend money, so you can save your whole salary,\u201d<\/strong> the miner said.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FlfIBEcJe2cmsQjAcsk8qWdQ4fn4?imageView2\/0\/format\/webp\/q\/75\" alt=\"3.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Employees_use_their_phones_at_the_Bitcoin_mine_The_mine_has_550_%E2%80%9Cmining_machines%E2%80%9D_running_continuously_They_solve_complicated_mathematical_problems_for_which_they_are_rewarded_with_Bitcoins_Seven_employees_work_in_shifts_monitoring_the_machines_to_keep_the_mine_running_24_hours_a_day_Photo_nextsharkcom\"><\/span><strong>Employees use their phones at the Bitcoin mine. The mine has 550 \u201cmining machines\u201d running continuously. They solve complicated mathematical problems for which they are rewarded with Bitcoins. Seven employees work in shifts monitoring the machines to keep the mine running 24 hours a day.\u00a0 Photo: nextshark.com<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: justify;\">Bitcoin mine owner Liu (pictured below, left), 29, moved to Sichuan Province from Henan Province back in 2015 for cheaper and more abundant hydroelectricity.<\/p>\n<p style=\"text-align: justify;\">He now manages more than 7,000 mining rigs for clients who pay for Bitcoin across China, who are able to remotely monitor the machines and earnings via smartphone apps.<\/p>\n<p style=\"text-align: justify;\">Bitcoin mining has also become increasingly popular in remote areas of Sichuan Province due to cheap labor and computing power (paywall), according to Quartz.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FkRrp8dytguDAggnRdAYsunppAVh?imageView2\/0\/format\/webp\/q\/75\" alt=\"4.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Liu_XingzheChinaFile_Photo_nextsharkcom\"><\/span>(Liu Xingzhe\/ChinaFile) Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FgQvcf4gRXqwjWNGINnIbcqcjvxn?imageView2\/0\/format\/webp\/q\/75\" alt=\"5.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Huang_25_Kuns_brother_inspects_a_malfunctioning_mining_machine_during_his_night_shift_Miners_can_check_a_machines_condition_and_operations_using_phones_and_personal_computers_For_most_issues_they_can_simply_restart_a_machine_%E2%80%9CIf_its_a_complicated_problem_we_just_ship_it_to_the_factory_and_let_them_fix_it%E2%80%9D_Huang_said_Photo_nextsharkcom\"><\/span>Huang, 25, Kun\u2019s brother, inspects a malfunctioning mining machine during his night shift. Miners can check a machine\u2019s condition and operations using phones and personal computers. For most issues, they can simply restart a machine. \u201cIf it\u2019s a complicated problem, we just ship it to the factory and let them fix it,\u201d Huang said.\u00a0 Photo:nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FoBrOg-L8xWlP_VXuY-i8NvArQIn?imageView2\/0\/format\/webp\/q\/75\" alt=\"6.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"An_employee_at_the_hydroelectric_power_plant_checks_electric_generators_Kun_convinced_the_owner_of_the_hydroelectric_power_plant_to_build_a_Bitcoin_mine_next_to_the_power_plant_Photo_nextsharkcom\"><\/span>An employee at the hydroelectric power plant checks electric generators. Kun convinced the owner of the hydroelectric power plant to build a Bitcoin mine next to the power plant.\u00a0 Photo:nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/Fr6pTARiUDxBqXpjEMNuJFvSo4vA?imageView2\/0\/format\/webp\/q\/75\" alt=\"7.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Bitcoin_miners_attended_the_first_China_Bitcoin_Miner_Conference_at_Chengdu_Tianfu_Financial_Center_in_Sichuan_Province_Photo_nextsharkcom\"><\/span>Bitcoin miners attended the first China Bitcoin Miner Conference, at Chengdu Tianfu Financial Center, in Sichuan Province.\u00a0 Photo:\u00a0nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/Fh49TFzIz-dafnYo4JJjfJCJRv6d?imageView2\/0\/format\/webp\/q\/75\" alt=\"8.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Packing_boxes_for_mining_machines_pile_up_in_an_employee_dormitory_Kun_recently_purchased_new_mining_machines_the_AntMiner_S7_490_which_has_greater_computing_power_than_the_AntMiner_S5_140_it_would_replace_550_mining_machines_a_combination_of_S7_and_S5_models_running_24_hours_can_mine_25_Bitcoins_a_day_according_to_Kun_%E2%80%94_worth_around_6400_Photo_nextsharkcom\"><\/span>Packing boxes for mining machines pile up in an employee dormitory. Kun recently purchased new mining machines: the AntMiner S7 ($490) which has greater computing power than the AntMiner S5 ($140) it would replace. 550 mining machines, a combination of S7 and S5 models, running 24 hours can mine 2.5 Bitcoins a day, according to Kun \u2014 worth around $6,400.\u00a0 Photo:nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/Ft84DDIsnEXL4zxmwB2WipPTL_Sz?imageView2\/0\/format\/webp\/q\/75\" alt=\"9.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Tibetan_women_wait_for_a_party_hosted_by_Kun_to_celebrate_the_mining_machines_upgrade_Photo_nextsharkcom\"><\/span>Tibetan women wait for a party hosted by Kun to celebrate the mining machines\u2019 upgrade\u00a0 Photo:nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FmjTiwBlxFDq6EeDv4AyUB3MOvP9?imageView2\/0\/format\/webp\/q\/75\" alt=\"10.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Liu_29_stands_in_front_of_a_wall_of_cooling_fans_at_his_Bitcoin_mine_where_he_houses_and_operates_mining_machines_for_miners_who_dont_want_to_move_to_rural_Sichuan_in_Ngawa_Tibetan_and_Qiang_Autonomous_Prefecture_Sichuan_Province_Photo_nextsharkcom\"><\/span>Liu, 29, stands in front of a wall of cooling fans at his Bitcoin mine where he houses and operates mining machines for miners who don\u2019t want to move to rural Sichuan, in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan Province\u00a0 Photo:nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FmbTohapZJCI7d9Zm6NZB0m6JbwZ?imageView2\/0\/format\/webp\/q\/75\" alt=\"11.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Internet_cables_and_power_cables_at_Lius_mine_Photo_nextsharkcom\"><\/span>Internet cables and power cables at Liu\u2019s mine\u00a0 Photo:nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FrMZDebi0WHEq-5Kb0kJrjUBlheM?imageView2\/0\/format\/webp\/q\/75\" alt=\"12.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Sun_in_his_early_twenties_is_an_employee_of_a_Bitcoin_mine_in_Ngawa_Tibetan_and_Qiang_Autonomous_Prefecture_Sichuan_Province_Photo_nextsharkcom\"><\/span>Sun, in his early twenties, is an employee of a Bitcoin mine in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan Province. Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<h5><span class=\"ez-toc-section\" id=\"Packing_materials_for_mining_machines_pile_up_beside_the_water-cooling_system_at_Suns_mine_Photo_nextsharkcom\"><\/span><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FgiJf2kIFIMQL-8DkJfTK5ac3lEp?imageView2\/0\/format\/webp\/q\/75\" alt=\"13.jpg\" width=\"800\" height=\"533\" title=\"\">Packing materials for mining machines pile up beside the water-cooling system at Sun\u2019s mine\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FqPXEzItThSx8WqMafHxmlaucI8Q?imageView2\/0\/format\/webp\/q\/75\" alt=\"14.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FitNhLsMWTmzZFo1OQFx6B2QQiWX?imageView2\/0\/format\/webp\/q\/75\" alt=\"15.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Suns_colleagues_rest_in_their_dorm_They_live_at_the_mine_which_is_so_remote_the_nearest_public_transportation_is_20_miles_away_in_the_nearest_town_They_pay_to_hitchhike_there_once_a_week_%E2%80%9CThe_good_thing_is_there_isnt_anywhere_to_spend_money_so_you_can_save_your_whole_salary%E2%80%9D_Sun_says_Photo_nextsharkcom\"><\/span>Sun\u2019s colleagues rest in their dorm . They live at the mine, which is so remote the nearest public transportation is 20 miles away, in the nearest town. They pay to hitchhike there once a week. \u201cThe good thing is, there isn\u2019t anywhere to spend money, so you can save your whole salary,\u201d Sun says.\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/Fv4Ou6naH6q80ANmLBOo6BNBAkUU?imageView2\/0\/format\/webp\/q\/75\" alt=\"16.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Employees_use_their_phones_near_the_mine_Sun_works_Photo_nextsharkcom\"><\/span>Employees use their phones near the mine Sun works.\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<h5><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/Fv8EsZTvotgYi9OjsJW5CeTOPuu5?imageView2\/0\/format\/webp\/q\/75\" alt=\"17.jpg\" width=\"800\" height=\"533\" title=\"\"><\/h5>\n<h5><span class=\"ez-toc-section\" id=\"Goats_from_a_nearby_village_walk_among_cooling_fans_at_the_mine_Photo_nextsharkcom\"><\/span>Goats from a nearby village walk among cooling fans at the mine\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FomdYXgkVKaEtzcO8PQBTveWi7SC?imageView2\/0\/format\/webp\/q\/75\" alt=\"18.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5>Stacks of AntMiner S9 mining machines ready to be shipped to clients around the world, at Bitmain Technologies\u2019 manufacturing base in <a target=\"_blank\" class=\"inside_link\" href=\"https:\/\/www.hiredchina.com\/articles\/tag\/shenzhen\/\" title=\"View all posts in Shenzhen\" >Shenzhen<\/a>. Bitmain and Canaan, another Chinese company, dominate the global mining hardware market. Photo: nextshark.com<\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FphDTQv6Up0cimwLI-pDXvgJvxo9?imageView2\/0\/format\/webp\/q\/75\" alt=\"19.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Employees_work_on_an_assembly_line_of_AntMiner_S9_mining_machine_at_Bitmains_manufacturing_base_Shenzhen_Photo_nextsharkcom\"><\/span>Employees work on an assembly line of AntMiner S9 mining machine at Bitmain\u2019s manufacturing base, Shenzhen. \u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/Fi4cUwve2vjBmFHFnWVTFPmcZMX6?imageView2\/0\/format\/webp\/q\/75\" alt=\"20.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"A_researcher_works_in_a_lab_at_Bitmains_manufacturing_base_Shenzhen_Photo_nextsharkcom\"><\/span>A researcher works in a lab at Bitmain\u2019s manufacturing base, Shenzhen\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FgEDZmancWrwmhhh3dvdS8ouQOAJ?imageView2\/0\/format\/webp\/q\/75\" alt=\"21.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"An_employee_puts_labels_on_AntMiner_S9_mining_machines_in_Shenzhen_The_AntMiner_S9_is_the_most_efficient_mining_machine_on_the_consumer_market_right_now_and_is_produced_by_a_Chinese_company_called_Bitmain_Its_current_cost_is_1113_Due_to_the_high_price_of_bitcoin_its_has_been_out_of_stock_for_a_long_time_The_price_in_the_black_market_is_almost_doubled_Photo_nextsharkcom\"><\/span>An employee puts labels on AntMiner S9 mining machines, in Shenzhen. The AntMiner S9 is the most efficient mining machine on the consumer market right now and is produced by a Chinese company called Bitmain. It\u2019s current cost is $1,113. Due to the high price of bitcoin, its has been out of stock for a long time. The price in the black market is almost doubled.\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FrdGa3tta_YUQ6RCNOYPvBv_z5Re?imageView2\/0\/format\/webp\/q\/75\" alt=\"22.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Bitcoin_miners_add_each_other_on_social_media_Wechat_after_attending_the_first_China_Bitcoin_Miner_Conference_at_Chengdu_Tianfu_Financial_Center_in_Sichuan_Province_They_use_Wechat_to_exchange_information_of_encryption_currency_Photo_nextsharkcom\"><\/span>Bitcoin miners add each other on social media (Wechat) after attending the first China Bitcoin Miner Conference, at Chengdu Tianfu Financial Center, in Sichuan Province. They use Wechat to exchange information of encryption currency.\u00a0\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FnlemqIOEJEIvqz4yCOC0B72Np--?imageView2\/0\/format\/webp\/q\/75\" alt=\"23.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Employees_work_at_BTCChina_BTCCs_office_in_Shanghais_financial_district_BTCC_was_founded_in_2011_and_is_now_one_of_Chinas_largest_Bitcoin_exchange_platforms_According_to_its_CEO_Bobby_Lee_Chinese_people_like_the_%E2%80%9Conline_gambling%E2%80%9D_feel_of_Bitcoins_instability_also_with_the_Chinese_governments_restrictions_on_many_investment_channels_people_welcome_new_ways_to_invest_their_money_Photo_nextsharkcom\"><\/span>Employees work at BTCChina (BTCC)\u2019s office, in Shanghai\u2019s financial district . BTCC was founded in 2011, and is now one of China\u2019s largest Bitcoin exchange platforms. According to its CEO, Bobby Lee, Chinese people like the \u201conline gambling\u201d feel of Bitcoin\u2019s instability; also, with the Chinese government\u2019s restrictions on many investment channels, people welcome new ways to invest their money.\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FmKlEpYL9p67ai_BPOd7YYJjHr5d?imageView2\/0\/format\/webp\/q\/75\" alt=\"24.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Employees_use_their_phones_to_play_games_and_watch_TV_drama_near_the_mine_Sun_works_for_Photo_nextsharkcom\"><\/span>Employees use their phones to play games and watch TV drama near the mine Sun works for\u00a0 Photo:nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FhR18DP7qOYJxRzHB3F0rp0Tw0Z6?imageView2\/0\/format\/webp\/q\/75\" alt=\"25.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"Employee_resembles_calculation_board_at_Lius_mine_Photo_nextsharkcom\"><\/span>Employee resembles calculation board at Liu\u2019s mine\u00a0\u00a0\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FgQvcf4gRXqwjWNGINnIbcqcjvxn?imageView2\/0\/format\/webp\/q\/75\" alt=\"5.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"A_29-year-old_Tibetan_named_Kun_walks_in_between_aisles_of_mining_machines_26_September_2016_Kun_is_the_mines_manager_as_well_as_one_of_its_investors_He_learned_about_Bitcoin_through_a_friend_and_started_investing_Photo_nextsharkcom\"><\/span>A 29-year-old Tibetan named Kun walks in between aisles of mining machines, 26 September 2016. Kun is the mine\u2019s manager as well as one of its investors. He learned about Bitcoin through a friend and started investing\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<hr \/>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/Fv7Jv7CuBOH6MmKzDv72y6UUbiJ-?imageView2\/0\/format\/webp\/q\/75\" alt=\"28.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/Fhh-34ea1-H9-lmlxWdIvQ9q06Ra?imageView2\/0\/format\/webp\/q\/75\" alt=\"29.jpg\" width=\"800\" height=\"533\" title=\"\"><\/p>\n<h5><span class=\"ez-toc-section\" id=\"A_mountain_road_winds_toward_Bitcoin_mines_in_Ngawa_Tibetan_and_Qiang_Autonomous_Prefecture_Sichuan_Province_Sichuan_is_also_called_%E2%80%9Cthe_capital_of_bitcoin_mining%E2%80%9D_Photo_nextsharkcom\"><\/span>A mountain road winds toward Bitcoin mines, in Ngawa Tibetan and Qiang Autonomous Prefecture, Sichuan Province. Sichuan is also called \u201cthe capital of bitcoin mining\u201d.\u00a0 Photo: nextshark.com<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p style=\"text-align: center;\"><span style=\"color: #418caf;\"><b><a href=\"https:\/\/v.qq.com\/x\/page\/y0524k1f8kv.html\" target=\"_blank\" rel=\"noopener\">Please click here to see the Video<\/a><\/b><\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><img decoding=\"async\" src=\"https:\/\/media.hiredchina.com\/FlXXlKXBxtykYAuKbjvAxKMwIbVH?imageView2\/0\/format\/webp\/q\/75\" alt=\"GIC.jpg\" width=\"500\" height=\"543.2937181663837\" title=\"\"><\/p>\n","protected":false},"excerpt":{"rendered":"Sichuan Province is home to one of China\u2019s largest bitcoin mines, where mining machines are used to produce cryptocurrency that is sought by entrepreneurial Chinese investors. Sichuan Province is home &#8230;","protected":false},"author":1,"featured_media":8702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[60,306,29,34,440,230],"class_list":["post-545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-china","tag-hiredchina","tag-jobs","tag-jobs-in-china","tag-rare-photos-reveal-life-inside-chinas-largest-bitcoin-mines","tag-shenzhen"],"_links":{"self":[{"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/posts\/545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/comments?post=545"}],"version-history":[{"count":1,"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/posts\/545\/revisions"}],"predecessor-version":[{"id":8703,"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/posts\/545\/revisions\/8703"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/media\/8702"}],"wp:attachment":[{"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/media?parent=545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/categories?post=545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hiredchina.com\/articles\/wp-json\/wp\/v2\/tags?post=545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}