Bitcoin miners run away from China

The restrictions of China's crypto paralysis have begun to move some of the player's activities in this sector out of the country by leaping to the Bitcoin miners.

Bitmain, which operates China's two largest Bitcoin mining associations, moves its regional headquarters to Singapore. Wu Jihan, co-founder of the company, said in an interview that Bitmain is also engaged in mining operations in the US and Canada. BTC.Top, the world's third largest mining pool, is building a facility in Canada.

Chinese policy makers have banned the public offering of the coin the past year, and have called for local markets to put an end to virtual money transactions. This week, new designs were created in the country to deter Bitcoin mining.

BTC.Top founder Jiang Zhuoer said in an interview, "We chose Canada because of the stability of the country and its politics with relatively cheap cost."