Hong Kong, for instance, has no sales tax and is closer to component suppliers. Popov buys display cards, motherboards and power supplies in Hong Kong and mines cryptocurrencies in Russia, where electricity is cheaper and the climate is more suitable. In Hong Kong, shopkeepers say most buyers come from Russia, but they have had clients from western Europe, Africa, and South Korea. Jerry Wu, the shop manager of Wisetek Digital Technology, says selling cryptocurrency mining equipment is 50 per cent more profitable than selling computer parts and brings him HK$50,000 to 60,000 ($6,400-$7,673) a month in profits. And Taiwan Semiconductor Manufacturing (TSMC), the world’s No.1 foundry by revenue and volume, has embraced cryptocurrency mining as a business venture.

Source: The Express Tribune February 21, 2018 06:22 UTC