Bitmain Shift Mining Out Of China

Facing pressure from the Chinese government, bitcoin mining collectives are shifting their operations overseas, Bloomberg reports.

Bitmain, which runs China’s two largest bitcoin-mining collectives, is setting up a regional headquarters in Singapore and has expanded its operations to the U.S. and Canada. Another mining pool, BTC.TOP, has also chosen to open a facility in Canada.

Their decisions highlight how China’s role as the cryptocurrency leader is diminishing, as its government clamps down on mining operations.


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