In response to increased regulatory pressures in China, Bitmain wants to set up shop in Canada.
Bitmain is one of the largest and perhaps the most well-known bitcoin mining and hardware companies in the world. Its primary operations are, as is expected for a company that’s headquartered in Beijing, located in Asia (notably central China and the autonomous Inner Mongolia) but, as per recent reports, it looks as though the company might be looking to diversify its geocredentials.
China Losing Market Share
It is well known in this space that China’s government has sought to crack down on cryptocurrencies over the last twelve months or so. Policymakers and regulators in the Asian superpower have forced exchanges to close, restricted the flow of cryptocurrencies into, out of, and inside the nation, and is now putting considerable pressure on bitcoin miners.
Bitmain falls into this latter category and it’s believed that this regulatory pressure is behind the company’s desire to branch out to alternative regions that operate under alternative (and, in most cases, far more accommodative) regulatory frameworks.
The latest reports suggest that Bitmain is now looking at Canada as a potential home for …
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