Sweden to become next major Mining Centre

Stockholm School of Economics stated that Sweden’s bitcoin market is growing fast, due to friendly regulatory for fintech startups and cryptocurrency mining
27 November 2017   943

According to Claire Ingram Bogusz, a researcher at Stockholm School of Economics, Sweden is already the second largest fintech centre in Europe, with venture capital firms, practical policies, and startup accelerators in place. Investors in the Swedish fintech market have started to shift to the local bitcoin market, which has seen an rapid increase since the beginning of 2016.

Sweden is among the leaders in the global bitcoin market. There’s a very high-level of knowledge about it here, and a high-level of digital competence in the Fintech space. We may not be the size of Hong Kong or London, but it’s hard to find that level of digital competence in other financial centres.

 

Claire Ingram Bogusz

Researcher, Stockholm School of Economics

Furthermore, a large number of bitcoin miners have started to move to Sweden, due to its cold climate that ensures a cool environment for bitcoin miners and low-cost hydroelectric power.

Another region with cheap electricity and cold climate is the region of Northeastern China. However, Chinese miners have already started to consider relocating to other regions given the uncertainty of the Chinese bitcoin and cryptocurrency markets.

Sweden has cheap electricity and cold climate that is necessary to operate mining pools, but unlike China Sweden has friendly regulatory frameworks which allow bitcoin miners to operate more efficiently, without having to deal with restrictions from local authorities.

Mining Firms to Make Chinese Unicorn List for First Time

"Unicorns" are private companies valued at over $1 000 000 000
19 July 2018   140

The Shanghai Hurun Research Institute has published a list of unicorn companies in Greater China (China, Hong Kong, Macao and Taiwan), which for the first time included representatives of the cryptocurrency industry. Thus, the list of major figure-makers in the list of major equipment Bitmain, Canaan Creative and Ebang. This is reported by Coindesk.

It is noteworthy that Bitmain took the 13th place with a capitalization of 70 billion yuan ($ 10.4 billion). Canaan was awarded with 32nd place with a capitalization of $ 3 billion, and Ebang closed the trio on 53rd place with a value of $ 1.5 billion.

Note that the media has already reported that all three companies intend to hold an IPO on the Hong Kong Stock Exchange (HKEX).

In May, the relevant application was filed by Canaan, and in July, followed by Ebang Communication. Jihan Wu previously stated that his company also considers the jurisdiction of Hong Kong, and potential investors may be Sequoia Capital and IDG Capital.