Bitcoin
Bitcoin Miners Bet on Southeast Asia as Future for Crypto After China Crackdown
The 17-acre cement slab in the middle of an industrial area of Borneo once belonged to a logging company. That business long ago abandoned the site to the elements, leaving only rudimentary structures and a four-story concrete birdhouse made to attract swifts whose nests, built with saliva, command high prices in China.
But in 2023, another industry entered the scene: Bitcoin miners. Sheltered by a vast sheet metal roof, more than 1,000 machines now roar, while hundreds of others sit nearby in cardboard boxes, waiting to be unpacked.