The world's biggest cryptocurrency asset manager said on Tuesday it was see...
LONDON - The world’s biggest cryptocurrency asset manager said on Tuesday it was seeing efforts to shift bitcoin production to North America from China, which dominates digital coin mining.
Many mainstream investors such as pension funds or asset managers have been reluctant to embrace bitcoin, concerned at its volatility, security breaches and lack of transparent markets. “What I have seen recently, probably over the past three to six months, is a real growing shift toward attempts to move a lot of that activity outside of China into specifically the U.S. and Canada,” said Silbert.Bitcoin miners - typically firms that run collections of highly-powered computers hooked up to cheap, plentiful electricity - compete against others in the bitcoin network to solve complex maths puzzles and earn new coins.
Chinese firms such as Bitmain have become among the world’s biggest miners and manufacturers of bitcoin mining hardware. Another maker, Canaan, launched an initial public offering in November, but got a lukewarm investor response.
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