Amid growing regulatory pressure and a proposed cryptocurrency mining tax in the United States, New York-based Bitcoin (BTC) mining company Bit Digital is expanding its infrastructure in Iceland, placing as many as 2,500 newly bought mining machines there.
Specifically, Bit Digital plans to announce the sending of the new Bitcoin mining computers outside the US, in the first move of its kind for this company in two years, at the Bitcoin 2023 conference in Miami, according to a report by the Wall Street Journal on May 18.
As Samir Tabar, chief executive of Bit Digital, explained, the reason behind this major decision was the current regulatory uncertainty and a broader government crackdown on digital asset companies in the US:
“What we’ve done in the past is the machines come to the United States, but now instead of doing that, we have to look at different jurisdictions due to instability. (…) We have to take that seriously.”
Regulatory uncertainty
Notably, the US Treasury Dep
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