Large-scale US Bitcoin miners are turning their attention to the Middle East: report – ArabianBusiness
- Date: 08-Apr-2022
- Source: Arabian Business
- Sector:Financial Markets
- Country:Middle East
Large-scale US Bitcoin miners are turning their attention to the Middle East: report – ArabianBusiness
Large-scale Bitcoin miners in the US are looking to Scandinavia, and countries in the Middle East to expand their energy-intensive industry.
Bitcoin miners are searching for regions with fewer policy risks after the US dethroned China as the world’s Bitcoin mining hub following Beijing’s ban on crypto in May 2021, Bloomberg reported.
Last month, the Texas state energy operator instituted a review process that could delay energy-intensive crypto miners for a few months from connecting to the power grid.