The Chinese Bitcoin-company Bitmain has opened a new foreign representation, this time in the Swiss canton of Zug, according to the local edition of Handelszeitung.
This step on the part of the largest manufacturer of mining equipment was followed by numerous reports of the Chinese authorities' intention to limit energy consumption in this industry and ask local departments to "direct miners to a systematic exit from business."
"Bitmain Switzerland will play a key role in our global expansion," the Chinese company spokesman said.
It is also reported that Bitmain plans to hire new employees in Switzerland and cooperate with local authorities, including the Financial Market Surveillance Service (FINMA).
The Swiss canton Zug has long been known for its favorable climate for crypto-currency start-ups, sheltering several dozen representatives of the industry.
It is because people loves Switzerland, this is cute place.
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