Can you mine Bitcoins in Australia? | Kalkine Media

 are you an investor looking for premium Market opportunities presenting premium and exclusive service for investors by calki [Music] Bitcoin mining has always enticed both individuals and businesses [Music] one of the reasons is that crypto mining is typically a safer bet compared to trading which is a very volatile space the way it works is the miner gets a BTC token after partaking in the process of the recording of transactions on bitcoin's blockchain this means it's a reward or payment for the work that's been done as opposed to a profit that arises from a buy or sell activity so let's take a closer look at Bitcoin mining for Aussies now yes it is in fact possible to mine crypto here in Australia to do this The Miner would need an expensive computer or specific Hardware that's in order to mine crypto optimally whether it's in Australia or anywhere else in the world that allows it for that other these computers or Hardware are known as miners or mining rigs Bitcoin mining in Australia is legal just as how Bitcoin transactions are legal as well so you shouldn't have any problem in general with mining overall all types of Bitcoin mining including Central Processing Unit mining Graphics Processing Unit mining application specific integrated circuit mining field programmable gate array Mining and Cloud mining are all fair game throughout most of the country of course though the big drawback that makes Bitcoin mining somewhat of an issue certainly for individuals is the energy related costs [Music] not only are the computers and Hardware involved expensive to purchase but electricity wise they cost a lot to run and due to the complex calculations involved they also typically require significant external cooling to ensure that there are no complications with the hardware and given the above average temperatures experienced in Australia and the exorbitant cost of energy it often proves to be somewhat of a futile exercise here the solution perhaps you could set up a rig in Antarctica ultimately just anything to avoid another La Nina cycle here quite frankly I am done with them well let us know your thoughts in the comments below and don't forget to like and share the video for more content you can subscribe to the channel and press the Bell icon for future notifications I'm James Preston for calcium media