Energy Costs Slashed for Cloud Miners To Make Up For Bitcoin Reward Halving

Mining software companies try to reduce costs of Bitcoin mining meeting the challenge brought about by the cutting in half of the block rewards.
Hashflare has joined the list of Bitcoin mining companies that are working out a way to cut the cost of energy needed for their operations.
Energy supply has been a topical issue of late for mining operations particularly around the halving period as it is a great determinant to ensure a lower operational cost and to maximize profit.
A report says some of the mining companies in parts of China recently met to discuss how to ‘share power grid and local power resources’ as well as other issues such as hydropower, wind energy, power tariff terms, specific mining co-operations.
The offer of cheap electricity will attract investment from Bitcoin mining companies particularly in in China where roughly 82% of globally-produced hash share is concentrated.

This post was published at Coin Telegraph on 2016-07-14.