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The world’s most desirable places to live and work are no longer in major metropolitan areas: they’re remote and at altitude. That’s according to bitcoin miners at least, who are fueling a boom for land and utilities in some of the world’s most scenic regions. They’re not relocating for the breathtaking views, however, but for the cheap hydroelectric that’s fueling their rigs. From Washington to Siberia, mining mania is on the rise.
Cheap Power to the People
The lengths to which people will go to secure the means to mine cryptocurrencies is impressive. As the price of bitcoin climbs ever higher, and the number of remaining coins still to be mined diminishes, there’s a digital gold rush in place which evokes obvious comparisons with the original rush for the precious metal that peaked in 1849. Back then, the invocation was to “Go west”. For today’s bitcoin miners, it’s more a case of “Go north”, heading out of town to where the hydropower is plentiful.