A study surveying reps from top EU mining firms found many believe regulations and protections offset higher electricity costs.
A report compiled by non-profit research institute, dGen, has found that European crypto miners believe that the region’s higher electricity prices when compared to China and Russia are offset by political stability, robust regulation, and strong protections.
The study also found that many miners based in Europe feel prepared for the Bitcoin (BTC) block reward halving, emphasizing that higher electricity prices have forced many miners to invest in highly efficient technologies.
Robust regulation offsets expensive electricity in Europe
F2Pool’s global business director, Thomas Heller, stated that “[h]igher electricity prices are offset by smoother business, better regulation, and more protection,” adding that “even things like getting insurance” are available to miners in the region.
The vice president of Poolin, Alejandro De La Torre, echoed Heller’s position.