Scenes from a Visit to a Secret Chinese Bitcoin Mine

Scenes from a Visit to a Secret Chinese Bitcoin Mine

BBC reporter Danny Vincent visited a bitcoin mine in China that reportedly mines up to $8 million per year. Vincent was invited to tour the mine under the condition that its location remains confidential.

The reason for the secrecy is that the mine is outside the control of the Chinese government, which has not taken a pro or con position on the cryptocurrency.

The location is so high in the mountains that a visitor has to bring oxygen cans to breathe. Mobile phone connections are inconsistent. Wi-Fi-enabled chat apps and video calls are the main modes of communication.

Owner A Former Farmer

A 30-year-old by the name of Chandler Guo served as Vincent’s guide. Guo’s family ran a beef farm. After investing in bitcoin, Guo has turned what was once a sleepy town into a “hidden bitcoin economy.” Guo operates a company called Bitbank.

Chandler Guo

Chandler Guo. Source: BBC

The Bitbank website,, describes the company as a financial technology firm that encompasses every

Read more ... source: TheBitcoinNews

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