As China’s crackdown on cryptocurrencies broadens to bitcoin miners, some of the industry’s biggest players are shifting operations overseas.
Bitmain, which runs China’s two largest bitcoin-mining collectives, is setting up regional headquarters in Singapore and now has mining operations in the U.S. and Canada, Wu Jihan, the company’s co-founder, said in an interview. BTC.Top, the third-biggest mining pool, is opening a facility in Canada and ViaBTC, ranked No. 4, has operations in Iceland and America, their founders said. The moves underscore how China’s once-dominant role in the world of cryptocurrencies is shrinking as policy makers clamp down.