Easing Regulations Give an Impetus to Relocating Crypto Miners - PRNewswire

NEW YORK, Sept. 2, 2021 /PRNewswire/ -- The cryptocurrency market is constantly evolving, and not just due to new technologies, but new regulations and politics as well. For example, earlier this year, after the crackdown of the Chinese government on crypto mining, Bitcoin miners in China have begun looking to relocate their operations to U.S. states like Texas, South Dakota and Tennessee, The Washington Post reported. The U.S. in now the new hub of the Bitcoin mining market. In fact, it is the second-biggest mining destination on the planet, accounting for nearly 17% of all the world's Bitcoin miners as of April 2021. That's a 151% increase from September 2020, according to CNBC. ISW Holdings Inc. (OTC: ISWH), Riot Blockchain, Inc. (NASDAQ: RIOT), Bit Digital, Inc. (NASDAQ: BTBT), Sphere 3D Corp. (NASDAQ: ANY), The OLB Group, Inc. (NASDAQ: OLB)

Overall, the approach of financial institutions, businesses and even certain governments has significantly changed in recent years, as commercial payments are slowly warming up to the prospects of Bitcoin. One of the major reasons for this is that a Bitcoin payment is faster, cheaper, safer and less volatile than the local currencies in many countries. In addition, some of the problems that the crypto market was recently facing are already being resolved. For example, by the latest estimates, the Bitcoin network uses as much energy in one year as the country of Argentina. Yet, some companies in the crypto and blockchain market have...

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