Is the Bitcoin 'Halving' Driving an Exodus of Old US Mining Computers Abroad?

The upcoming Bitcoin "halving" event has triggered a significant migration of older mining equipment from the United States to overseas destinations with lower electricity costs, as miners seek to maintain profitability in the face of reduced rewards. About 6,000 outdated Bitcoin mining machines are set to be relocated to a facility in Colorado Springs before being refurbished and sold abroad, particularly in regions like Africa and South America where electricity expenses are lower. The halving, scheduled for late April, will cut Bitcoin rewards in half, prompting miners to upgrade to more efficient hardware to offset potential profit losses. As a result, there has been a surge in demand for newer machines, with major mining companies collectively investing over $1 billion in equipment orders since February 2023. This move reflects the industry's ongoing efforts to adapt to changing market dynamics and optimise mining operations for sustainable profitability.