North America Offers New Crypto Mining Opportunities

North America Offers New Crypto Mining Opportunities

The public’s image of cryptocurrencies has shifted dramatically in recent years. Earlier this year, numerous prominent corporations revealed a more liberal attitude toward Bitcoin, accepting it as payment for goods and services. Since then, prominent firms and businesses have grown considerably more willing to invest in blockchain and cryptocurrency. Mastercard (NYSE:MA) revealed last month that it has agreed to purchase the blockchain analytics start-up CipherTrace, in the latest indication of how large corporations are warming to the technology.

“Digital assets have the potential to redefine commerce, from basic activities like paying and receiving payments to altering economies and making them more equitable and efficient,” said Ajay Bhalla, Mastercard’s President, Cyber & Intelligence.

“With the fast expansion of the digital asset ecosystem comes the need to guarantee that it is trustworthy and secure. To do this, we want to leverage the complementing capabilities of Mastercard and CipherTrace.” Marathon Digital Holdings, Inc. (NASDAQ: MARA), HIVE Blockchain Technologies Ltd. (NASDAQ: NASDAQ:HIVE), SOS Limited (NYSE: SOS), and Bit Digital, Inc. (NASDAQ: BTBT)

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The bitcoin industry is constantly changing and becoming more sophisticated. Because of the popularity of digital currencies, government bodies are now pressing for tighter rules. According to the New York Times, Bitcoin has evolved from a digital curiosity to a volatile but generally accepted invention, and federal authorities are scrambling to handle the potential hazards to consumers and financial markets.

According to the New York Times, “their concerns have only grown as both new and established firms have rushed to find ways to profit from bringing the massive wealth held in cryptocurrency into the traditional financial system through quasi-banking services like interest-bearing accounts and lending.” According to Industry Research Engine, the worldwide blockchain market is predicted to increase by USD 15.1 billion by 2024, with a CAGR of 69.3%.

“The Company is evaluating strategic alternatives to establish up a North American manufacturing base in the United States or Canada, in order to position the company’s leadership in Bitcoin mining,” according to AGM Group Holdings Inc. (NASDAQ: AGMH).

The move is part of AGMH’s continued attempts to extend its global footprint in the mining machine sector, and it marks the start of a new era of the company’s development. Building a manufacturing base in the United States or Canada, in particular, will bring the Company closer to consumers, streamline the supply chain, lessen the impact of global logistical challenges, and expedite local market penetration. The Company is considering Pittsburgh and Seattle as potential locations for its manufacturing base, which will include AGMH’s R&D lab, hardware production, assembly, and business development teams.

Mr Bo Zhu, AGMH’s Chief Strategy Officer, is leading this strategic endeavour. Mr Zhu has extensive experience of the North American client base and relationships. AGMH has submitted various mining machine sample components to local manufacturers for production testing and base selection.

Mr Chenjun Li, AGMH’s Co-Chief Executive Officer, stated:
‘Aside from China, we are committed to developing and manufacturing high-performance mining machine hardware and software in order to reach a bigger customer base in other countries.’ The new production base will be vital for our mining equipment business in North America, propelling our company into the next phase of expansion.'” FinancialNewsMedia contributed the information.

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