The US is looking to replace China as the number of Bitcoin mining countries in the world, with more companies in the US now looking to enter the mining market.
Genesis Digital Assets Acquires 20.000 Bitcoin Miners
Genesis Digital Assets of the United States announced today that it has acquired 20.000 Bitcoin miners. The acquisition comes as the company seeks to expand its cryptocurrency mining operations and become a major player in the industry in North America.
Genesis bought the Bitcoin mining machines from Canaan, a leading producer of cryptocurrency miners. The partnership between Genesis and Canaan extends beyond just buying Bitcoin miners as they would work together to build and operate industrial-scale Bitcoin mining data centers to cater to the 20.000 machines.
Canaan said, "In partnership with the Order, Canaan has granted Genesis Digital Assets an option to purchase up to 180.000 additional mining machines." According to Genesis co-founder and executive chairman Abdumalik Mirakhmedov, this latest batch of Bitcoin mining machines will help them expand their mining operations in North America. They also plan to expand their operations in the Nordic countries. He added that the cryptocurrency company wants to expand its operations in these regions due to its interest in harnessing renewable energy. “These new machines will significantly increase our capacity as we work towards our goal of increasing our capacity to 1,4 gigawatts by the end of 2023,” he added.
North America is the new home of crypto miners
North America is becoming the new home of cryptocurrency miners after China's crackdown on cryptocurrency mining in recent months. The Chinese government has made it nearly impossible for cryptocurrency miners to operate in the country. As a result, some miners have started moving to more favorable regions such as the United States, Canada, Kazakhstan, and Russia.
Bitcoin's price continues to struggle below the $ 50.000 region. It has risen by less than 1% in the past 24 hours and is trading just above the $ 47 mark. The leading cryptocurrency could look to break above the $ 48 level in the next few hours if the positive momentum continues. Do you want buy Bitcoins? Find out how to do it with our guide. Or, leave a comment below to let us know what you think about investing in cryptocurrencies.
