Cryptocurrency mining has evolved into a multi-dimensional game in certain regions—featuring technological innovation, power struggles, and regulatory pressure unfolding simultaneously.

From a hardware perspective, old mining machines remain active locally. Devices like Antminer S9 and M3, which have been phased out in most parts of the world, can still generate profits under low electricity prices. This precisely reflects a reality: as long as profit margins are sufficient, outdated technology can make a comeback.

To evade regulation, miners employ a variety of tricks. Some bypass meter recordings by wiring directly before the meter, others disguise themselves as agricultural projects to qualify for subsidized electricity rates. On the network side, tactics are even more cunning—using VPNs, IP address masking, or even satellite networks to become completely invisible. Physically, mining farms hide in underground tunnels, military facilities, or religious sites, some controlled by special forces and supplied with exclusive power.

This combination of tactics limits the effectiveness of official crackdowns. Interestingly, mining machines confiscated by authorities are often redeployed elsewhere, creating a cycle of "investigate → recover → restart." More critically, the military itself is a participant in mining—one province’s mining farm reaches 175 MW, far exceeding the country’s total legal mining capacity.

The underlying conflict points to energy. Although the region is the second-largest producer of natural gas globally, its aging and fragile power grid cannot handle the sudden surge in electricity demand caused by mining. Over the past few years since 2021, power shortages have repeatedly become a prominent issue.