A few days after announcing a new branch in Switzerland, Chinaâs mining giant Bitmain Technologies is considering another expansion â this time in Canadaâs Quebec province.
According to a report by Reuters, Bitmain is looking at potential mining sites in Quebec and has already begun discussions with power authorities.
The new plan appears to be an addiction to Bitmainâs current mining facilities overseas. The company also recently announced it was expanding to Switzerland, having already registered a new branch near the European nationâs âCrypto Valley.â At the time, Bitmain announced Switzerland would âplay a key roleâ in its global expansion plans.
In a response to CoinDesk, Bitmain also said its mining operation in the North America region has been on since 2015 but did not reveal exact locations.
While thereâs no clear indication that the two events are related, Bitmainâs new plan came at a time when China, the current hub of bitcoin mining with more than 70% of the networkâs computing power calling it home, has recently indicated it might curb tax and power benefits miners currently enjoy.
As reported by CoinDesk previously, Quebec has become an attractive location for new bitcoin mining facilities. The region has excessive cheap hydropower to offer tech companies, including bitcoin miners. In addition, the countryâs colder environment is conducive to longer lives for the ASIC machines which companies use to mine bitcoin.
Quebec hydro dam image via Shutterstock