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Bitcoin Miners Are Shifting Outside China Amid State Clampdown

posted onJanuary 8, 2018
by l33tdawg

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.

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