In response to increasing pressure in China, Bitmain is going to open a branch in Canada.
Bitmain is one of the largest and perhaps the most famous company in the mining and production of equipment for mining in the world. Its manufacturing facilities are located mainly in China (especially Central China and Inner Mongolia Autonomous), but, according to the latest data, the company can move, at least partially.
China is losing market share
The Chinese government consistently works against cryptocurrencies and companies in this field. In the beginning, the government banned the ICO, then the activities of the cryptocurrency exchanges, but according to the latest plans to restrict the activities of miners in the camp.
Bitmain is forced to look for alternative regions to their capacities, moreover, that countries with a much more loyal attitude to the cryptocurrency industry, more than enough.
Recently, it became known that the company opens an office in Switzerland, and now Bitmain considers Canada as one of the options to host their mining capacity.
See also – Bitmain opens office in Switzerland
In particular, the representative of the company Nishant Sharma, confirmed that Bitmain is negotiating with local authorities and energy suppliers.
Quebec city is an attractive place for mining business mainly because of the cheap renewable energy and climate. In prohladno climate the cooling costs of expensive equipment is much lower.
Director of business development and distribution of Hydro Quebec, David Vincent, commented on this:
Of the five largest players in the world in the field of blockchain, we have offices at least three or four.
It is known that Bitmain is already working in Canada. The Independent reports that a representative of Bitmain acknowledged that Bitmain is working in Canada in 2016, though not said, what is this project and where it is located.