The Chinese manufacturer of mining equipment Bitmain announced the closure of the Norwegian division, according to ICOshock.
The office will be moved to Germany, where, according to representatives of Bitmain, the conditions are more favorable. The Scandinavian office of a Chinese company lasted only a year.
According to Julie Hvideberg, ex-manager of the Norwegian division of Bitmain, the main reason for this decision was the cancellation by the local authorities of special preferential conditions for the mining industry, including lower electricity tariffs. She also expressed the opinion that in the future the largest mining pools will be concentrated in China and Russia, where there is low-cost electricity.
Last year the problem with problems with regulators was faced by the Norwegian mining farm Kryptovault. Authorities and local residents considered the company too noisy.