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Chinese bitcoin mining giant sets up Swiss subsidiary

Reuters  |  ZURICH 

By Brenna Hughes NeghaiwiZURICH (Reuters) - Chinese bitcoin mining giant Bitmain Technologies is expanding to Switzerland in a move that will be key to widening its reach, the group told a Swiss newspaper.Bitmain Switzerland was registered in Zug, Switzerland in late December according to commercial registry filings accessed on Wednesday. Experts say China is one of the world's biggest sources of bitcoin mining, where miners solve complex mathematical puzzles with computers in order to be awarded virtual coins.But a government clampdown on electricity-intensive cryptocurrency mining could ...

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First Published: Wed, January 10 2018. 22:55 IST