Cryptocurrency

Horizon Kinetics stake by transferring leadership mining of China to the united States

Key facts:

The mining company announced that it had acquired 17mil miners S19 of Bitmain.

More funds will migrate their operations to the united States, according to the representative.

The investment fund Horizon Kinetics, which has approximately USD 5.3 billion in assets under management, announced that triple your investment in mining of Bitcoin. This will be taken out of the hand of Core Scientific, one of the mining companies largest in the united States.

The vice president of business development of blockchain of Core Scientific, Taras Kulyk, said in an interview that other financial institutions or investment funds will move their operations mining North America.

Although it is not clear that motivations are behind the decision to relocate from China, this announcement appears to be aligned with what you said Barry Silbert, founder of Grayscale Investment, one of the largest investment funds of the cryptocurrencies in the world.

In February of this year, Silvert, founder of Grayscale Investments, with headquarters in New York, stated that it was noting efforts to move the production of bitcoins from China (which currently dominates the mining cryptocurrencies) to North America.

Hugh Ross, chief operating officer of Horizon Kinetics, said: “Having carried out reviews of due diligence among more than a dozen facilities in mining cryptocurrencies in the united States and Canada during the past three years, and after having worked with Core Scientific for more than a year, we have seen first hand the great difference that represents, for our mining business, to work with an organization professionally managed”.

Core Scientific, for its part, has greatly increased the size your operation with machines of mining. Recently announced the purchase of 17mil new mining company Bitmain, mainly models Antminer S19 and S19 Pro, which is considered to be the most powerful offered by the chinese manufacturer currently.

Bitmain has been reducing significantly its domain in the market of the mining machines. Being overtaken by your competitors as MicroBT and Innosilimonas outlined Breaking News recently. In spite of that, Core Scientific continues to rely on this provider, at least this year.

From 2018 the SEC has tried to take greater control of where the major investment funds located your money. Want to adjust to their conditions could be one of the reasons why other companies would migrate to the north american country.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

Do NOT follow this link or you will be banned from the site!