Bitcoin

Bitmain Sets up Shop in Switzerland’s Crypto Valley

JP Buntinx | January 12, 2018 | 1:00 pm
Bitcoin

Bitmain Sets up Shop in Switzerland’s Crypto Valley

JP Buntinx | January 12, 2018 | 1:00 pm

Bitcoin companies are always looking to expand their presence. This is especially true for mining hardware manufacturers. Bitmain is the number one company in this particular industry right now. They recently announced a plan to set up shop in Zug, the Crypto Valley capital. An interesting decision by the Chinese company. It is evident this little part of Switzerland has attracted a lot of attention in quick succession. It may even become the European hub of all cryptocurrency activity.

Crypto Valley has quickly become a phenomenon in the cryptocurrency world. This minor part of Switzerland is very open-minded to blockchain and digital currencies. It’s also possible to pay for some public services using Bitcoin. Furthermore, the local “government” introduces a code of conduct for ICO projects not too long ago. The positive momentum just keeps trucking along in the Crypto Valley. Especially now that Bitmain has decided to open a branch in Zug as well.

Crypto Valley Welcomes Bitmain

For the Chinese manufacturer, this is not their first overseas expansion. The company has offices in various countries around the world as we speak. Adding Switzerland to this list simply makes sense at this point. More specifically, the global expansion for Bitmain means gaining a foothold in Europe as well. Right now, Crypto Valley in Switzerland is the place to be for anything cryptocurrency-related. In the long run, this new hub will allow the mining hardware manufacturer to provide better services to their customers.

Bitmain is confident their Swiss branch will play a critical role in the company’s ongoing global expansion. Although the manufacturing of devices will remain in Chinese hands, a European office helps move things along rather nicely. Zug is one of the regions with “good legal stability and friendly regulation”, according to the company. So far, Crypto Valley has made a lasting impression on the cryptocurrency industry. Whether or not other European regions will follow this example in the future, remains to be determined.

The current plan of action involves Bitmain offer a higher employment rate throughout Crypto Valley. Additionally, they want to actively communicate with self-regulatory organizations and Finma as well. For now, it remains a bit unclear what types of services the manufacturer will provide in Switzerland. Many people tend to forget they also have various software products which can be of great interest. An exciting future lies ahead for Crypto Valley and Bitmain.

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