As China cracks down on the mining of Bitcoin. Miners are looking for new locations with cheap electricity rates. Bitmain, one of the leading Bitcoin mining operations is looking to Switzerland. According to registry filings Bitmain Switzerland was registered in Zug, Switzerland in late December.
Wednesday, a spokesman for the Bitmain group told the Swiss paper Handelszeitung, “Bitmain Switzerland will play a central role during our global expansion,”
Bitmain has operations in Hong Kong, Tel Aviv, Amsterdam and other locations around the world.
The Swiss company, Bitmain Switzerland, was registered to Jihan Wu, Ti Liu, and Christian Johannes Meisser.