Japanese Bitcoin Mining Just Became More Attractive

About five or six years ago, it was possible to profitably mine Bitcoin using nothing more than a desktop PC. Fast forward to today, and profitability requires huge amounts of hash power and, in turn, a considerable amount of electricity. Of course, unless this electricity is cheap, profitability is difficult to achieve. This has led to markets searching for the most efficient (from a price perspective) regions globally to set up their mining operations.

Historically, China has been a popular choice as have some areas of Eastern Europe

Now, however, the latest region to enter the fray is Japan.

Specifically, a region in northern Japan where the climate is ideally suited to this sorof mining activity.

The region in question is called Kazuno City and it has a population of approximately 32,000. It is located on a mountainous northern prefecture on Japan’s primary island called the Akita Prefecture.

Here's what Japan Today said about the climate:

“The average yearly temperature of Kazuno City is low, probably contributing to improving the heat exhausting/cooling effects to deal with the heat generated by computers for mining… The city has an abundance of renewable energy including geothermal, hydroelectric and wind powers, and its self-sufficiency rate of electricity exceeds 300%.”

According to reports, one company is already making plans to set up an operation in the regionand expectations are that many more will follow, lured in by the potential profits rooted in cheap electricity and a cryptocurrency friendly government environment.

The company in question is called Miner Garage. According to, again, Japan Today:

“At the mining center, 600 computers will be installed at first, and they are expected to realize a mining business worth about 300 million yen per year by dealing with about 10 kinds of virtual currencies such as Bitcoin.”

This is just one of many positive developments out of Japan surrounding the cryptocurrency space and it further reinforces the country's efforts to establish a leadership position in this sector.

Goldman Sachs thinks Bitcoin could soon be worth nearly $8,000

Bitcoin’s star seems destined to continue to rise. It has grown more than 500%in this year alone, with no sign  that trend will be abating anytime soon. It also seems to be gaining traction outside of the crypto industry, with investors hoping to catch a ride on the Bitcoin express.

Hoping to facilitate this, CME, the world’s largest exchange, recently announced their plans to launch a Bitcoin futures contract later this year. This will allow for more people to invest in the currency as they will not require an actual Bitcoin to profit from it.

Following this announcement, Bitcoin reached a record high of $7,601.53 over this weekend. After dipping below $7,000 on Sunday, it was trading $7,092 by Monday.

Goldman Sachs predicts that it will continue its upward trend to be within touching distance of the $8,000 mark

“The market has shown evidence of an impulsive rally since breaking above $6,044,” Sheba Jafari, vice president on the bank's FICC Market Strats team, said on Sunday.

“Next in focus, $7,941. It might consolidate there before continuing higher,” she added.

In August this year, Jafari stated that the currency was riding the fifth and final wave, based on the Elliot Wave theory, of an “impulsive” rally with estimates that it would reach a high of $4,827 before dropping to less than half of that at $2,221.

The currency did indeed increase after that to reach $5,013 in the beginning of September. However, as China began its aggressive crackdown on digital currencies that month, Bitcoin dropped to $2,951. Jafari has now said that if Bitcoin does in fact reach a price of $7,941, it would mark the third of “five-waves up” for the currency.

In addition to being supported by CME, Japanese investors have also shown an increase in the demand of Bitcoin. Trade in the currency in Japanese yen accounts for approximately 60% of the trading volume.

The introduction of these Bitcoin futures contracts will greatly increase the currency’s investment potential. Becauseit will be based on speculation rather than purchasing the actual currency, this will eliminate counterparty risk as well as reducing the risk associated with the volatile and unpredictable crypto market. In addition, these futures might pave the way for Bitcoin ETFs sooner rather than later.

So even though Bitcoin has dropped $600 from its record high, there is still belief from one of the biggest financial institutions that there are definitely more highs for Bitcoin to chase, and ultimately reach.

How Anti-Bitcoin Saudi Prince Could Have Prevented Billions of Dollars Being Frozen

How Anti-Bitcoin Saudi Prince Could Have Prevented Billions of Dollars Being Frozen

On the RT’s Keiser Report, highly regarded financial analyst Max Keiser revealed that billionaire Prince Alwaleed Bin Talal, who harshly criticized Bitcoin in the past, could ironically have prevent the loss of his fortune with bitcore.in.

Prior to his arrest on various charges including corruption and money laundering, Talal criticized Bitcoin, stating that a bubble is forming and that it is a new “Enron in the making.”

On the Keiser Report, Max Keiser explained that after a strange series of events, Bitcoin could have protected the assets and wealth of Talal from the Saudi police and the government, given its decentralized structure and immutable nature.

“He [Talal] said bitcoin was no good because there is no central government and no central bank. And then a week later, the central bank and the central government rips out all of his net worth. If he had them in Bitcoin, he wouldn’t have that problem. He is like a poster child for why you should buy bitcoin. Anyone who is thinking about should I buy bitcoin, look at [Talal] sleeping on a mattress of a rich hotel under house arrest. Furthermore, he is overrated as a money manager,” said Keiser.


Since the beginning of 2016, the price of Bitcoin has been on the rise for the particular reason Keiser mentioned on the Keiser Report. Investors and traders have started to seek for assets and safe haven assets that are transportable, liquid, and most importantly, unseizable. Any asset, currency, or store of value that is physical can be confiscated and seized by the government, as seen in the recent case of Talal.

One of the Bitcoin’s major advantages over fiat currencies and traditional safe haven assets like gold is that it eliminates power from authorities, because governments are limited to what they regulate within the global Bitcoin and Cryptocurrency markets.

For instance, the Chinese government recently imposed a ban on Cryptocurrency trading. But, reports suggest that the demand for Bitcoin and other Cryptocurrencies have consistently increased even with the trading ban in place, as traders migrated to over-the-counter (OTC) and peer-to-peer (P2P0 in regions like Japan and Hong Kong to invest in Bitcoin.

OKCoin and Huobi, two of the largest Bitcoin exchanges in China that recently halted their services within China, reallocated their headquarters to Hong Kong and are currently considering launching over-the-counter trading platforms for both Hong Kong and Chinese traders.

In the case of Talal, the Saudi police and the government would have not been able to seize his assets if his wealth was stored in Bitcoin, and would have not been able to estimate his net worth to begin with. Such privacy is important and necessary to any investor, trader, business, and individual.