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Bitcoin Mining Giants Eye Middle East, Europe for Expansion

  • The regions are seen having power and capital for growth
  • Regulatory risk also an issue in looking for new locations
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Large-scale Bitcoin miners in the U.S. are looking to Scandinavia, the Middle East and other regions to expand their energy-intensive and lightly regulated industry. 

“We are geographically diversified in the U.S. … but we are also looking outside the U.S.,”  Mike Levitt, chief executive of Austin, Texas-based mining company Core Scientific, said at the Bitcoin Conference 2022 in Miami on Thursday. The most logical regions are Scandinavia and the Middle East,  where some nations have suitable power sources and capital, he said.