Bit Digital Defies US Regulators, Expands Bitcoin Mining To Iceland
Amid growing regulatory pressure and a proposed cryptocurrency mining tax in the United States, New York-based Bitcoin (BTC) mining company Bit Digital is expanding its infrastructure in Iceland, placing as many as 2,500 newly bought mining machines there. The move comes as a response to current regulatory uncertainty and a broader government crackdown on digital asset companies in the US. Specifically.
Bit Digital plans to announce the sending of the new Bitcoin mining computers outside the US, in the first move of its kind for this company in two years, at the Bitcoin 2023 conference in Miami, according to a report by the Wall Street Journal on May 18. As Samir Tabar, chief executive of Bit Digital, explained, the company has decided to look at different jurisdictions due to instability. In the past, the machines have come to the United States, but now the company needs to take a serious look at different options. The US Treasury Department is considering taxing cryptocurrency mining firms 30% of their costs of electricity, arguing that miners raise the electricity costs on shared grids and have a negative impact on the environment due to the high power demand.
Source
https://t.me/DeFi_Ethereum
