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What procedures are required for mining in Vietnam (Total reserves of mineral resources in Vietnam)

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What procedures are required for mining in Vietnam? What kind of procedures are

What procedures are required for mining in Vietnam (Total reserves of mineral resources in Vietnam)

What procedures are required for mining in Vietnam? What kind of procedures are needed for mining in Vietnam?

1. Purchase equipment to mine Bitcoin and other cryptocurrencies using computers in the country.

2. Install machines, maintain software, and set up servers.

3. Cheap electricity (as low as 50 yuan), pricing can be determined based on electricity consumption. If the electricity price is around 40 yuan or 100 yuan per unit cost, the machines need to be connected to the internet and network transmission can be done through Ethernet cables.

4. It takes 2 working days to debug the system for internet access with a computer. There must be a schedule and there is no guarantee of timely updates, so modifications may need to be made to the machines themselves.

5. There is no need to specialize in various technologies, just import the machines from the internet to personal computers.

Total reserves of mineral resources in Vietnam

According to Vietnamese media reports, as of June 30th, Vietnam has over 1 billion square kilometers of mineral resources and power supply valued at over 4 trillion US dollars. In addition, in the past year, the number of companies in the country using renewable energy to mine Bitcoin (BTC) has more than tripled, and the growth rate from 2017 to 2021 has reached nearly 30%. This indicates that Vietnam has an increasing number of investors choosing to invest in cryptocurrencies.

Earlier reports stated that in mid-July this year, Vietnam’s national power grid announced that it would provide cheap, secure, and reliable services to all users through blockchain technology. (Cointelegraph)

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