Bitmain: the mining giant to set up a subsidiary in Switzerland :

The mining of cryptocurrencies has become a highly competitive sector and the giant Bitmain is expanding its mining centers around the world. This time, the mining leader has chosen ... Switzerland.

Bitmain arrives in Switzerland
While some investors buy BTCs and wait for prices to rise to resell them, others seek to earn cryptocurrencies through mining. These are the two most popular types of crypto investment right now.

As for mining, well-known companies are beginning to get involved, while giants like Bitmain continue to expand internationally.

Based in Beijing, Bitmain Technologies has decided to set up in Europe, more precisely in Switzerland, in the city of Zug. The latter is a small town of 30,000 inhabitants, which the Bitcoin mining specialist has chosen to establish its new European subsidiary.

As the Bitmain representative told Swizz Handelszeitung:

"Bitmain Switzerland will play a central role in our global expansion"

According to the newspaper's reports, Bitmain Switzerland was registered in the commercial register on behalf of Jihan Wu, co-founder of Bitmain, and a Swiss citizen by the name of Christian Johannes Meisser.

Why did you choose Zug?
As a reminder, Bitmain Technologies is recognized worldwide as the largest supplier of ASIC machines.

In the world of cryptocurrency, the Chinese giant accounts for 42.4% of the mining sector alone, thanks to its many mining centers. Indeed, Bitmain Switzerland is not the first subsidiary of the company in Europe since it is already represented in Amsterdam.

It is not surprising that Bitmain has chosen the small town of Zug, since Zoug is home to the famous Crypto Valley Association. It is a non-profit association specializing in the development of blockchain technology.