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As China Cracks Down on Crypto, Opens Door For U.S.
Description
As China continues to crack down on cryptocurrency, mining operations—which litter the Chinese landscape—might move to the U.S. A report from the Cambridge Centre of Alternative Finance indicates that North America, Kazakhstan, and Russia are the most popular spots worldwide for continued Bitcoin mining. All the mining firms that need to get out of China could move to one of these three countries, and most notably, the U.S. has accounted for over 35% of the global hash rate for Bitcoin. Companies like Bit Digital have already relocated to North America. BIT Mining ($BTCM@China) recently announced plans to move to Texas, and Mawson Infrastructure Group ($MIGI@Australia) is planning to expand its main facility in Sandersville, GA, about 2 hours southeast of Atlanta. At press time, Mawson Infrastructure stock was up nearly 9% while BIT Mining stock rose over 5%.
Keywords & Tags
#crypto
#cryptocurrency
#china
#nft
#non-fungible token
#finance
#inflation
#business
#crypto news
#blockchain
#tech
#altcoins
#U.S.
#economic recovery
#digital asset
#crypto broker
#crypto mining
#Russia
#Kazakhstan
#Crackdown
#economic growth
#virtual currency
#North America
#economic outlook
#mining operations
#Crypto Crack Down
#the U.S.
#Mining Zone
#Cambridge Centre of Alternative Finance
#Bit Digital
#BIT Mining
#Mawson Infrastructure Group
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