Chinese Bitcoin mining company, Bitmain, has announced a new subsidiary in Switzerland called Bitmain Switzerland.
MAKE SURE TO FOLLOW US ON TWITTER: @BLCKCHAINDAILY
“Bitmain Switzerland will play a key role in our global expansion,” Bitmain told Handelszeitung, a Switzerland news service.
Bitmain Switzerland will be located in Zug, which is quickly becoming the home of the “Crypto Valley”, as numerous blockchain startups begin pouring in due to relaxed regulations.
The move is in part due to reports that the Chinese government wants to get end the countries mining network.
Bitmain stated the company plans to develop its involvement in Switzerland by working with the government and the Swiss Financial Market Supervisory Authority.