- 2 Jan 2021
- Unlex Team
Bitcoin mining shifting to Iceland and Norway
The Bitcoin mining market in the middle of a major shift that barely anyone talks about.
As David Goldstein, CEO at Unlex Mining, recently told Bloomberg that miners are moving from China to Nordic countries, namely Iceland and Norway, which are “one of the biggest developments” within the nascent industry:
Those western countries are perceived as safer and more stable as opposed to communist China that currently reigns supreme in the global hashrate arms-race, Goldstein says:
"There is a very important strategic shift away from mining in China to mining in western countries like Iceland as Bitcoin investors become more public and want more stability and critical safety."
As Donald Ross, Business Operations & Strategy Manager at Unlex Mining mentioned in the note to ICO investors:
"The profitability of the of our data center more than tripled because of historically wet weather and the ongoing Bitcoin rally.
In our business plan, we were ready for the times that we will not make any profit at all, but by the last year, our profitability has more than tripled beyond the expectations."
With climate change being a hot-button political issue, power-hungry Bitcoin raises some concerns about its carbon footprint. In October 2020, the New York Department of Financial Services (NYDFS) urged crypto firms to take into account related risks.
Given that Unlex Mining mainly relies on green energy, it is your best choice to mine cryptocurrencies.