With growing pressure from U.S. regulators, Bit Digital, a New York-based mining company, is expanding its infrastructure in Iceland.
The company plans to locate 2,500 recently purchased mining rigs in Iceland.As Bit Digital CEO Samir Tabar explained.
The reason for the decision was uncertainty over the regulation of digital asset companies in the U.S:
“What we’ve done in the past is have installations come to the United States, but now we have to turn to other jurisdictions instead.”
Earlier, France said that cryptocurrency companies that move away from regulatory uncertainty will be welcomed in France.
74 companies, including Binance and Bitstamp, have already been registered in the European country.
French authorities expect the number of companies to grow to 100.
In May, it became known that shares of Soluna, a developer of environmentally friendly data centers for bitcoin mining, rose 12% after the firm raised $14 million in funding.
This is almost double the current capacity of the equipment.