最新报道：According to Bijie.com, Bitcoin mining remains a mainstay of the crypto economy. In the Asia-Pacific (APAC) region, abundant hydropower, natural gas reserves, and surplus electricity present both opportunities and frictions. The region holds the potential for "green hashing," but also faces high electricity costs and fragmented regulations. For global investors, Bitcoin miners in the Asia-Pacific region are currently at the center of debates over energy use, transparency, and capital access. (Update: Asia-Pacific Bitcoin Mining Overview - July 2025) BitDeer expanded Bhutan's hydropower capacity to over 1,200 megawatts, establishing the country as a renewable energy mining hub. Marathon Digital and Zero Two began operating a 200-megawatt immersion cooling site in Abu Dhabi, demonstrating how advanced cooling and flare gas integration technologies can sustain operations in extreme climate conditions. Meanwhile, Australia's Iris Energy reported a hash rate of 50 exahashes per second, demonstrating that miners in the Asia-Pacific region are catching up with their Western counterparts. Background - The Cambridge Bitcoin Mining Map shows that following China's 2021 crackdown, Bitcoin mining activity has shifted to Asia-Pacific economies, while underground mining in China continues. Energy data released by the Asia-Pacific Economic Cooperation (APEC) predicts rising renewable energy penetration, which, if supported by policy, could create conditions for Bitcoin mining to align with decarbonization goals. A Deeper Analysis - China Remains Opaque. Despite the ban, seasonal hydropower and underground mining clusters persist in Sichuan. The Cambridge Digital Mining Industry Report 2025 warns of underreported activity in China, complicating global hash rate and concentration risk assessments. In fact, despite the 2021 ban on cryptocurrency mining, China still accounts for over 21% of the global hash rate. Drivers of this persistence include underground hydropower operations in regions like Sichuan, decentralized small farms that evade detection, and local utilities that quietly sell surplus electricity. While Beijing maintains the ban on paper, in practice it appears to tolerate the existence of a shadow Bitcoin mining industry, adding significant opacity and risk to global assessments. High electricity prices in Japan have limited the development of domestic farms. However, companies like SBI Crypto and GMO operate renewable energy power plants overseas. Within Japan, SoftBank's 300 MW data center in Hokkaido exemplifies how AI infrastructure and mining-scale energy loads overlap. PTS signed a three-year agreement to provide carrier-grade hash rate to the Japanese enterprise sector, demonstrating steady demand for stable capacity. South Korea is exploring power system integration. A May 2025 arXiv study suggests that monetizing surplus electricity from Bitcoin mining could help South Korean electric power companies reduce debt while lowering grid losses. This model redefines mining as a grid balancing tool rather than a burden. Green Computing Power in Asia: Hydropower, Flare Gas, and Renewable Energy Expansion. Bhutan's hydropower expansion in partnership with BitDeer illustrates how Asia can establish Bitcoin mining as an environmentally sustainable platform and attract ESG-focused capital. An immersion cooling site in Abu Dhabi demonstrates how flare gas and advanced infrastructure can redefine efficiency in hot climates. Australia's Iris Energy showcases a hybrid model that combines renewable energy mining with AI computing, positioning itself in both digital and energy markets. These cases demonstrate that Bitcoin mining in the Asia-Pacific region is becoming more flexible, diverse, and sustainable. Behind the scenes: Asia-Pacific miners are balancing local politics and global scrutiny. Japan and South Korea prioritize energy integration over sheer scale. Bhutan promotes sustainability, while China's covert activities raise transparency concerns. The UAE and Australia leverage their energy mix to attract institutional capital and lower marginal costs. Wider implications: Institutional investors demand higher standards of disclosure. While US-listed miners gain trust through SEC filings and market liquidity, Asia-Pacific companies must bridge fragmented frameworks. However, if Asian miners can provide ESG-backed transparency, capital flows between East and West could become more balanced. Looking ahead: By 2026, if more Asia-Pacific miners can combine efficiency with reliable disclosure, they will be able to approach their Western counterparts. Competitiveness will depend on rapid upgrades to next-generation ASICs, grid integration with renewable energy sources, and the establishment of regional reporting standards that reduce perceived risk among global investors. Policy Costs and Regional Risk Data Breakdown - The CCAF 2025 report highlights improvements in hardware efficiency and the regional reorganization of mining capacity. The regional intergovernmental forum's Energy Outlook shows how regional energy development trajectories will reshape the cost base and carbon emissions of Bitcoin mining. Potential Risks - Expert Opinion -