State Run BTC Mining Farms

I thought it was only a matter of time before I started seeing pieces on government backed mining operations.
Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy

With the price of BTC skyrocketing in 2020 and more adoption taking place governments are noticing. That good and bad. We have all see the trouble xrp has gotten into with the sec. here is bit of the latest news on that front. SEC Launches Enforcement Action Against Cryptocurrency Company Ripple

However there’s also some bullish news like government back mining operations.

The government of Khyber Pakhtunkhwa (KP), the third largest of Pakistan’s four semi-autonomous provinces, is setting up two state-backed bitcoin mining farms, local media reported last week. Profits from bitcoin mining may help prop-up Pakistan’s ailing economy, but KP must first overcome the country’s long-running electricity crisis. Pakistan is facing severe electricity shortages, with power cuts a common occurrence.

So obviously there’s some issues with this situation, but how soon before we see all countries mining to fund government programs. Of that happens the supply will dry up real quick pushing prices even higher.

Big businesses like Russian oil drilling giant Gazprom has already Opened a Crypto mining farm run on their own mined gas. The Chinese are also setting up mining farms. How soon before we Amazon or google using their computing power to scoop up their share?

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